BlackRock Inc. (BLK)
Dana Gas Restructures $1 Billion Bond to Avert Asset Seizure
Thu, 2012-11-08 12:47 — newsdeskDana Gas PJSC was able to conclude a restructuring deal with sukukholders including BlackRock Inc. (BLK). Thus, the formerly mentioned seizure of its Egyptian energy assets will be averted. The company has reached an in-principle agreement with its creditors, according to which it will convert the Islamic bonds into an ordinary and a convertible sukuk. Sukukholders will receive a partial cash payment as well.
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