Investors in Dana Gas PJSC (DANA)’s $1 billion Islamic bonds hired Linklaters LLP to help negotiate the restructuring of the debt due in October, three people familiar with the matter said.
The London-based law firm was hired last month, according to the people who declined to be identified because the information is private. Linklaters and Dana Gas declined to comment.
The company, whose chief executive officer plans to retire this year, hired Blackstone Group LP (BX) to advise on restructuring the Islamic bonds, three people familiar with the matter said in April. Deutsche Bank AG (DBK) is also advising Dana Gas, two people with knowledge of the matter said in January. The yield on its 7.5 percent sukuk climbed 33 percentage points so far this year to 70.7 percent at 6:35 p.m. in Dubai.
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