Dana Gas Restructures $1 Billion Bond to Avert Asset Seizure

Dana Gas PJSC was able to conclude a restructuring deal with sukukholders including BlackRock Inc. (BLK). Thus, the formerly mentioned seizure of its Egyptian energy assets will be averted. The company has reached an in-principle agreement with its creditors, according to which it will convert the Islamic bonds into an ordinary and a convertible sukuk. Sukukholders will receive a partial cash payment as well.

Read more on: http://www.bloomberg.com/news/2012-11-07/dana-gas-reaches-accord-to-rest...

Das könnte Dich auch interessieren …