{"id":628740,"date":"2018-05-13T04:18:55","date_gmt":"2018-05-13T04:18:55","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/13\/dana-gas-reportedly-reaches-settlement-agreement-with-sukuk-holders\/"},"modified":"2018-05-13T04:18:55","modified_gmt":"2018-05-13T04:18:55","slug":"dana-gas-reportedly-reaches-settlement-agreement-with-sukuk-holders","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/13\/dana-gas-reportedly-reaches-settlement-agreement-with-sukuk-holders\/","title":{"rendered":"Dana Gas reportedly reaches settlement agreement with sukuk holders"},"content":{"rendered":"

The UAE\u2019s Dana Gas appears to have reached a settlement agreement with holders of its USD 700 mn sukuk. <\/strong>\u201cA committee representing sukuk holders, which include BlackRock Inc. and Goldman Sachs Group Inc., agreed to accept an immediate cash payout of USD 0.20 to the USD and to roll the rest into a three-year security,\u201d sources with knowledge of the matter tell Bloomberg<\/a>. The agreement would bring the Sharjah-based producer\u2019s court case<\/a> with its Islamic bond holders to an end.<\/p>\n","protected":false},"excerpt":{"rendered":"

The UAE\u2019s Dana Gas appears to have reached a settlement agreement with holders of its USD 700 mn sukuk. \u201cA committee representing sukuk holders, which include BlackRock Inc. and Goldman Sachs Group Inc., agreed to accept an immediate cash payout of USD 0.20 to the USD and to roll the rest into a three-year security,\u201d […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-628740","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"f485116d-5c11-4550-9c1a-75c19b96fb8a","order":"0","is_powered_by":true,"section_story_id":"f5c70abd-3254-407a-98a9-64e9c9d8643a","story_type":"1","photo_url":"","photo_position":"above","related_issue":[628719],"teaser":"","voice_url":""},"yoast_head":"\nDana Gas reportedly reaches settlement agreement with sukuk holders - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/13\/dana-gas-reportedly-reaches-settlement-agreement-with-sukuk-holders\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dana Gas reportedly reaches settlement agreement with sukuk holders\" \/>\n<meta property=\"og:description\" content=\"The UAE\u2019s Dana Gas appears to have reached a settlement agreement with holders of its USD 700 mn sukuk. \u201cA committee representing sukuk holders, which include BlackRock Inc. and Goldman Sachs Group Inc., agreed to accept an immediate cash payout of USD 0.20 to the USD and to roll the rest into a three-year security,\u201d […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/13\/dana-gas-reportedly-reaches-settlement-agreement-with-sukuk-holders\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-05-13T04:18:55+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/13\/dana-gas-reportedly-reaches-settlement-agreement-with-sukuk-holders\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/13\/dana-gas-reportedly-reaches-settlement-agreement-with-sukuk-holders\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Dana Gas reportedly reaches settlement agreement with sukuk holders\",\"datePublished\":\"2018-05-13T04:18:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/13\/dana-gas-reportedly-reaches-settlement-agreement-with-sukuk-holders\/\"},\"wordCount\":89,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/13\/dana-gas-reportedly-reaches-settlement-agreement-with-sukuk-holders\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/13\/dana-gas-reportedly-reaches-settlement-agreement-with-sukuk-holders\/\",\"name\":\"Dana Gas reportedly reaches settlement agreement with sukuk holders - 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The company\u2019s net income in 1Q2017 rose to AED 40 mn, from AED 22 mn a year earlier. Dana Gas says it is owed USD 1 bn from Egypt\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":574261,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/03\/dana-gas-in-talks-with-ipr-energy-over-sale-of-egypt-assets\/","url_meta":{"origin":628740,"position":2},"title":"Dana Gas in talks with IPR Energy over sale of Egypt assets","author":"enterpriseam admin","date":"3 September 2020","format":false,"excerpt":"M&A WATCH- The UAE\u2019s Dana Gas is in talks with Texas-based IPR Energy over the sale of its Egypt assets ahead of a USD 300 mn debt repayment in October, Reutersreports, citing unnamed sources familiar with the matter. The energy company was hoping to raise over USD 500 mn from\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":575986,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/05\/egypt-moves-closer-to-first-sovereign-sukuk-sale-as-cabinet-approves-draft-law\/","url_meta":{"origin":628740,"position":3},"title":"Egypt moves closer to first sovereign sukuk sale as cabinet approves draft law","author":"enterpriseam admin","date":"5 November 2020","format":false,"excerpt":"CABINET WATCH- We\u2019re one step closer to our first-ever sovereign sukuk issuance after the Madbouly Cabinet yesterday approved a bill authorizing sukuk sales. The executive regulations for the bill are expected to be issued within three months of it being ratified by the president. Reuters took note of the bill\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/11\/69.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569108,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/13\/dana-gas-to-make-decision-on-egypt-asset-sale-by-end-of-march\/","url_meta":{"origin":628740,"position":4},"title":"Dana Gas to make decision on Egypt asset sale by end of March","author":"enterpriseam admin","date":"13 February 2020","format":false,"excerpt":"M&A WATCH- Dana Gas to make decision on Egypt asset sale by end of March: Dana Gas received \u201cnumerous\u201d bids for its Egypt assets in 2H2019 and is currently finalizing the technical and commercial evaluation ahead of making a final decision by the end of March, the company said in\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/2\/184.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":570999,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/26\/dana-gas-plans-to-use-proceeds-of-egyptian-asset-sale-to-pay-sukuk\/","url_meta":{"origin":628740,"position":5},"title":"Dana Gas plans to use proceeds of Egyptian asset sale to pay sukuk","author":"enterpriseam admin","date":"26 April 2020","format":false,"excerpt":"The UAE\u2019s Dana Gas confirmed in a bourse statement (pdf)on Thursday that it intends to use proceeds from the (reportedly delayed) sale of its Egyptian assets to pay down outstanding sukuk due in October. 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