The Sharjah, U.A.E.-based company has collected $41.3 million of payments due from Egypt and $32.4 million from the Kurdistan region of Iraq so far in 2013, Dana Gas said in an e- mailed statement today. The gas producer renegotiated terms for $920 million of sukuk last year after payment delays from the two countries, linked to political instability.
"The company is confident of further progress in the collection of receivables in the near future due to its strong relationships in both countries," Dana Gas said in the statement. The company will hold a final shareholders meeting to approve its sukuk refinancing on April 23, it said.
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