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T-Bonds Issuance Programme

The auction calendar serves as a resource for investors, which contains upcoming auction dates.

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Issuance Calendar 2022

Maturity Period
Proposed
Auction Date
May 2024 May 2025 September 2027 Total Target
Issuance
Per Auction Date
2-year bond 3-year bond 5-year bond
09 May 2022 750 750 0 1,500
20​ June 2022 750 750 0 1,500
01 August 2022 750 750 0 1,500
12 September 2022 750 0 750 1,500
24 October 2022 750 750 0 1,500
05 December 2022 0 750 750 1,500
Total Planned Issuance For 2022 3,750 3,750 1,500 9,000
Current Outstanding Debt 2,250 2,250 0 4,500

*All figures are in AED million

           

Auction Details

T-Bonds Description 2-Year T-Bond 3-Year T-Bond
Issuer Government of the United Arab Emirates Government of the United Arab Emirates
Description UAE domestic government bond UAE domestic government bond
Status Direct, unsecured and unsubordinated Direct, unsecured and unsubordinated
Currency AED AED
Amortization type Bullet redemption of nominal amount Bullet redemption of nominal amount
Maturity date 11 May 2024 11 May 2025
Denomination (integral multiples of) AED 100,000 AED 100,000
Record Date Coupon Date – 1 Business Day* *Business Day as defined in the Information Memorandum Coupon Date – 1 Business Day* *Business Day as defined in the Information Memorandum
Interest Rate
Coupon rate Coupon rate 3.010% Coupon rate 3.24​%
Coupon frequency Semi-annual
May 11 and November 11 of each year
Semi-annual​
May 11 and November 11 of each year
First coupon date 11 November 2022
if applicable, long or short first coupon; never last odd coupon
11 November 2022
gt;if applicable, long or short first coupon; never last odd coupon
Interest accrual date 11 May 2022
settlement date; i.e. including first day, exclude last or sell date
11 May 2022
settlement date; i.e. including first day, exclude last or sell date
Day count basis ISMA 30/360 ISMA 30/360
Issuance Details
Issuance date 20 June 2022
20 June 2022
Settlement date T+2 T+2
Previous tranches issued, if any, by nominal value AED 750,000,000
AED 750,000,000
Nominal value issue target (current tranche) AED 750,000,000 AED 750,000,000
Total nominal value target, all tranches AED 1,500,000,000 AED 1,500,000,000
Auction Results - 9 May 2022
Nominal amount allotted AED 750,000,000 AED 750,000,000
Auction Results - 20 June 2022
Nominal amount allotted AED 750,000,000 AED 750,000,000
Cut-off Yield (based on clean price) 3.45% p.a. 3.60% p.a.
Clean Price 99.201 99.019
Bid-to-Cover Ratio 6.4 6.6
Latest Issuance Details
Issuance date 1 August 2022
1 August 2022
Settlement date T+2 T+2
Previous tranches issued, if any, by nominal value AED 1,500,000,000
AED 1,500,000,000
Nominal value issue target (current tranche) AED 750,000,000 AED 750,000,000
Total nominal value target, all tranches AED 2,250,000,000 AED 2,250,000,000
Auction Results - 01 August 2022
Nominal amount allotted AED 750,000,000 AED 750,000,000
Cut-off Yield (based on clean price) 3.054% p.a. 2.979% p.a.
Clean Price 99.922 100.687
Bid-to-Cover Ratio 5.26 4.83
  
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