26.11.2012 - Dana Gas offers bondholders sweetened debt deal
Dana Gas, in talks to restructure a $920 million Islamic bond, is offering bondholders cash and an average 8 per cent coupon on two new sukuks to replace the existing one, two sources said. The natural gas producer became the first United Arab Emirates company to miss a bond redemption when the sukuk matured on 31 October. Dana reached the restructuring deal on 7 November, potentially averting the seizure of its Egyptian assets...............................................Full Article: Source
Print