Egypt makes payment to Dana Gas covering 25% of what it is owed

Egypt has made payments covering 25% of the arrears owed to Dana Gas, the company said in disclosures to the ADX. Dana Gas received a USD 50 mn payment from the Egyptian government, according to a regulatory filing. The company had also received another payment of USD 20 mn in EGP-equivalent, it said. It is not clear if the USD 50 mn tranche was made in EGP as well or not. Both payment account for 25% of what Egypt owed Dana Gas as of the end of 1Q2017.