Dana Gas gets advisers for sukuk
UAE energy group Dana Gas appointed an international firm to advise on its $920 million convertible sukuk maturing in October, adding it won't stop to meet its obligations.
Dana Gas shares were up 5.9 per cent at 0945 GMT, while the sukuk was unchanged at 64 cents on the dollar.
Dana Gas has a 3 per cent stake in Hungarian group MOL, worth around 55.2 billion forints ($225m). Potential sales of businesses in Egypt and Kurdistan are also filled with political risk, which would hit the price.
Dana Gas' chief executive told Reuters in September the company was owed around $200m by Egypt.
Syndicate
