Islam, Islamic, Islamic News, Fatwa's and Islamic Business/Finance with Islam Online - The premier and trusted provider of online Islamic content.

Dana Gas Drops as Debt Standstill Not Mentioned: Abu Dhabi Mover

Published: 31/10/2012 08:24:11 AM GMT
Related Stories

Print
E-mail to friend
Dana Gas PJSC (DANA) shares were set for the biggest slump in almost two years after the fuel producer failed to confirm whether it had reached a so-c (more)

Dana Gas PJSC (DANA) shares were set for the biggest slump in almost two years after the fuel producer failed to confirm whether it had reached a so-called standstill agreement with bondholders for $1 billion of sukuk due today.

The shares tumbled 8.9 percent, headed for the biggest decline since January 2011, to 41 fils at 11:14 a.m. in Abu Dhabi. Dana Gas was the most traded by volume and the biggest decliner on Abu Dhabi's benchmark ADX General Index. (ADSMI)

The Sharjah-based company said today it's in talks to reach a consensual solution to restructure the sukuk, without providing details. A person familiar with the talks, speaking on condition of anonymity, said yesterday Dana Gas reached a standstill accord this month, under which creditors make no effort to collect debt payments thereby preventing a default.


Sukuk.me Wire External Story - Read full article here

Sukuk.me is not responsible for the content of external internet sites




Advertisement







Advertisment


Home | Site Map | Privacy Policy | About Us | Contact Us - © 2012 IslamOnline ® IslamOnline is a registered Trademark.
For Middle East Online Advertising enquiries contact alClick - Middle East Advertising

lslam Online is the leading and original Islamic portal on the Internet. IslamOnline's objective is to portray a accurate picture of Islam to the world as well as providing support services for Muslims as well as for non Muslims wishing to explore Islam. IslamOnline is the number one source for Islamic content in the Islamic world.