UAE to Offer Sukuk Worth AED550 Million on Tuesday

The United Arab Emirates is planning to sell Sukuk in an auction worth AED550 million with a yield of 4.48%, with the offer date being Tuesday, according to Bloomberg News. The Sukuk will mature in five years, on August 24, 2028.

Bloomberg News reported that the offer is a reopening of an earlier issuance for which AED550 million is still outstanding.

In a related development, Bloomberg News also reported that the UAE is planning to offer Sukuk in an auction worth AED550 million with a yield of 3.7%, with the offer date being October 3, 2023. The Sukuk will mature in three years, on May 11, 2026.

The agency reported that the sale is a reopening of an earlier issuance for which AED1.1 billion is still outstanding. Bloomberg News added that the yield on these Sukuk is currently estimated at 4.785%.