Dana Gas completes $920m sukuk restructuring
Dana Gas has completed a $920m sukuk restructuring with creditors, having defaulted on the notes in early November. The Sharjah-based company will pay down $70m in cash and issue two new $425m five year sukuk — one ordinary and one convertible — paying 9% and 7%, respectively. The previous deal’s coupon was 7.5%.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article:
- ✔ 4,000 annual insights
- ✔ 700+ notes and long-form analyses
- ✔ 4 capital markets databases
- ✔ Daily newsletters across markets and asset classes
- ✔ 2 weekly podcasts