Central Bank announces M-bills Auction on 1st April

ABU DHABI: The Central Bank of the UAE (CBUAE) announced an auction of Monetary Bills (M-bills) on 1st April, 2024. The auction includes four issues of M-bills Treasury bonds.

The first issue for 28 days will be up to Dhs3,500 million, the second for 84 days for up to Dhs4,500 million, the third for 168 days for up to Dhs6,000 million, and the fourth for 336 days for up to AED15,000 million.

The Issue Date will be on 3rd April, with the maturity date for the first issue on 1st May 2024, the second issue on 26th June 2024, the third issue on 18th September 2024, and the fourth issue on 5th March 2025.

Separately, Abu Dhabi Islamic Bank (ADIB) announcedthesuccessfulclosureofashariacompliant syndicated transaction totalling Dhs865 million to finance new and energy-efficient gas carriers.

This financing marks the second tranche of a larger syndication amounting to $370 million, which will be used to finance the construction of three state-of-the-art Very Large Gas Carriers (VLGCS) in South Korea and Japan.

ADIB acted as the Mandated Lead Arranger, Coordinator, Bookrunner, Shari’a Advisor, Investment and Security Agent on the deal, and was supported by several mandated arrangers specialised in the maritime and energy sectors including Abu Dhabi Commercial Bank (ADCB), National Bank of Fujairah (NBF), Commercial Bank of Dubai (CBD), and a strategic partner from KSA, the Islamic Corporation for the Development of the Private Sector (ICD), a multilateral development financial institution and the private sector arm of Islamic Development Bank (ISDB) Group.