Dana Gas Agrees $1Bn Sukuk Restructuring
UAE-based independent Dana Gas has reached an agreement with creditors to restructure its $1bn Sukuk. The move finalizes an “in-principle” arrangement announced in November (MEES, 9 November). The company had raised concerns when it missed an end-October deadline on repayment of the outstanding $920mn (MEES, 2 November).
The agreement specifies that the debt will be reduced from $1bn to $850mn via a...