Tagged: Dana Gas

Dana Gas restructures sukuk

Dana Gas restructures sukuk

Dana Gas will pay $70 million in cash to bondholders and offers aditionally 8% coupon on remaining debt in order to buy time to restructure its sukuk. The company is facing difficult times as it missed a bond redemption on its sukuk that has matured o…

Dana Gas restructures $920 million sukuk

Dana Gas restructures $920 million sukuk

Dana Gas has eventually agreed upon restructuring its sukuk worth $920 million. Thus, it will potentially avert the seizure of its assets in Egypt. According to Dana’s statement on Wednesday, the company intends to pay its sukuk holders a mix of cash a…

Dana Gas in deadlock over sukuk negotiation

Dana Gas in deadlock over sukuk negotiation

After its default, Dana Gas has asked creditors for a decision on the liquidation of its US$920 million sukuk (Dh3.37 billion). Locked in last-minute negotiations with a committee of sukuk-holders, Dana discusses a standstill agreement over repaying th…

Bondholders seeking key Dana Gas assets

Bondholders seeking key Dana Gas assets

Dana Gas could not manage to repay a $920 million sukuk on its maturity date. It is suggested that holders of the bond will stake claim to the extensive Egyptian assets of the company. According to an announcement by Dana Gas, they are in talks with bo…

Dana Gas gets advisers for sukuk

Dana Gas gets advisers for sukuk

UAE energy group Dana Gas appointed an international firm to advise on its $920 million convertible sukuk maturing in October, adding it won’t stop to meet its obligations.
Dana Gas shares were up 5.9 per cent at 0945 GMT, while the sukuk was unchanged…