IslamicFinance.de

Dana Gas has rescheduled a telephone call with sukuk holders to this Thursday at 4 p.m. The call would outline the company's proposal to restructure its outstanding $700 million of sukuk. Dana is claiming it must exchange the instruments because they are no longer lawful following changes in Islamic finance. The company had originally scheduled the call for June 21, but on that day it decided to postpone the call. Dana said it made several approaches to an ad hoc committee of creditors to arrange a call but each invitation was declined.