| Dana Gas' Islamic bonds rallied last week, sending the yield down eight times more than the Arabian Gulf average, after the UAE-based fuel producer agreed on debt-refinancing terms.
The yield on the 7.5 per cent notes, originally due in October 2012, tumbled 40 basis points in the five-day period to 8.05 per cent, data compiled by Bloomberg show. That compares with a five basis-point drop for companies in the Gulf Cooperation Council (GCC) to 3.7 per cent, according to the HSBC/Nasdaq Dubai GCC Corporate US Dollar Sukuk Index. Dana Gas' shares surged 7.7 per cent on Sunday, the most since December...............................................Full Article: Source |