Arab Today, arab today dana to pay 100m cash to bondholders
Last Updated : GMT 21:53:08
Arab Today, arab today
Arab Today, arab today

Dana to pay $100m cash to bondholders

Arab Today, arab today

Arab Today, arab today Dana to pay $100m cash to bondholders

Dubai - Arabstoday

Dana Gas PJSC plans to pay bondholders about $100 million in cash as part of the $920 million debt restructuring accord the company agreed this month, a person familiar with the deal said. The cash would be paid to holders of the Shariah-compliant notes, or sukuk, once a lockup agreement between Dana Gas and its creditors is signed, likely later this month, according to the person, who asked not to be identified because the information is private. Dana Gas, which didn’t pay the $920 million sukuk when they matured at the end of October, said on November 7 it had reached a restructuring agreement with its main noteholders including a partial cash payout. From : Khalij

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