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English news

28-Aug-2016

Dana’s CEO planning to buyback part of sukuk, says outlook for 2H16 is positive

Dana Gas’ CEO Patrick Allman-Ward said that it is looking at different ways in which it can move forward and structure their debt. He said that part of the restructuring would involve buying back a large part of its sukuk and part of it is going to involve rolling over of the remaining debt to the future. Dana Gas had sukuk outstanding of USD700mn. The CEO said that the outlook for 2H16 is overall positive. (Bloomberg)

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