IslamicFinance.de

An update on the status of Dana Gas' $1bn Sukuk-al-Mudarabah is made known, the maturity of which was on 31th October at midnight. The discussions with an Ad-hoc Committee of Sukuk holders about amendment terms and extension of the Sukuk are still going on. The desire of amendment and extension is due to the recent liquidity challenges which have resulted from challenging external macro-economic and political circumstances in the region. So far, the company has not paid all of the money due on the maturity date to its Sukuk holders.

Read more on: http://www.zawya.com/story/Dana_Gas_provides_update_on_the_USD1bn_sukuk_...

After Dana Gas PJSC's biggest shareholder announced the possibility for the fuel producer to come to a satisfactory resolution with investors on $1 billion in Islamic bonds maturing next month, the company has surged significantly. The shares soared the highest percentage since February 19th - 4.9%. Abu Dhabi’s benchmark ADX General Index (ADSMI) and the Bloomberg GCC 200 Index (BGCC200) display Dana Gas as the company with the highest trading volume.

More on http://www.bloomberg.com/news/2012-09-19/dana-surges-as-investors-see-su...