Dana Gas Misses Sukuk Deadline
UAE-based independent Dana Gas has missed the 31 October deadline on the repayment of $920mn outstanding on a $1bn 2007 Sukuk. The cash-strapped producer appears to have been granted a stay of execution by its creditors.
Dana “is in ongoing discussions with an ad-hoc committee of Sukuk holders over terms to amend and extend the Sukuk,” the Sharjah-based upstream firm said on 1 November. An extension and amendments to...