12.12.2012 - BlackRock secures premium in Dana Gas Sukuk revamp
BlackRock Inc. (BLK) and Ashmore Group Plc (ASHM) will receive a premium on their Dana Gas PJSC (DANA) sukuk holdings after the fuel producer finished an agreement to revamp $920 million of Islamic bonds. Dana shares soared 10 percent. Dana Gas, which missed sukuk payments in October, said it will split $850 million of debt into convertible bonds and an ordinary sukuk and pay creditors $70 million in cash. The five-year convertible bonds will pay a profit rate of 7 percent and the ordinary sukuk 9 percent..............................................Full Article: Source
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