Dana Gas may restructure bond: BofA

DUBAI - Dana Gas PJSC may restructure its $1 billion Islamic bond maturing in October as the sukuk repayment weighs on its shares, Bank of America said.

  • Follow us on
  • google-news
  • whatsapp
  • telegram

Published: Wed 25 Jan 2012, 11:03 PM

Last updated: Tue 7 Apr 2015, 11:21 AM

“The concern of a default on the $1 billion convertible sukuk continually lurks in the market,” BofA said in a research note. “Given management’s recent affirmation of honoring all debt obligations, we believe a restructuring scenario will be the most likely outcome. A hybrid solution of rolling over the debt/ partial cash repayment could be negotiated.”

business@khaleejtimes.com


More news from