Dana Gas Moves Forward On Sukuk Restructuring
By Melanie Lovatt
UAE-based independent Dana Gas has made progress on the restructuring of its $1bn Sukuk. It raised concerns when it missed an end October deadline on repayment of the outstanding $920mn, but has now reached an “in-principle” agreement with creditors, the company said on 7 November. These are an ad hoc committee of Sukuk holders which hold the majority of the debt. The biggest creditors...