Wednesday 7 November 2012

BRIEF-UAE's Dana Gas reaches in principle sukuk restructuring | Reuters

Dana Gas Co PJS :
* Dana says reaches "in principle" restructuring agreement on sukuk terms
* Dana cancels $80 million of sukuk held by company; sukukholders to receive partial paydown from company's balance sheet cash
* Dana says remaining sukuk split between new ordinary sukuk and new convertible sukuk
* Dana says has entered into a standstill agreement with creditors committee
* Dana says repays October 30 profit payment
* Dana Gas trading suspended on Abu Dhabi exchange - bourse statement

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