Dana Gas provides update on the $1bn Sukuk maturity

An update on the status of Dana Gas' $1bn Sukuk-al-Mudarabah is made known, the maturity of which was on 31th October at midnight. The discussions with an Ad-hoc Committee of Sukuk holders about amendment terms and extension of the Sukuk are still going on. The desire of amendment and extension is due to the recent liquidity challenges which have resulted from challenging external macro-economic and political circumstances in the region. So far, the company has not paid all of the money due on the maturity date to its Sukuk holders.

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