The yield on Dana Gas PJSC’s $1 billion Islamic bonds fell the most on record after the United Arab Emirates energy company promised to meet debt obligations.
The rate on the 7.5 percent sukuk due in October dropped 19 percentage points to 52.7 percent at 6:53 p.m. in Dubai, according to data compiled by Bloomberg. The price climbed to 72.56 cents on the dollar. Dana Gas shares closed unchanged at 34 fils after earlier gaining as much as 8.8 percent………………………………………..Full Article: Source