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Wednesday, 5 July 2017

Top Underwriter Says Dana's Case Is a Dud, Won't Hurt Market - Bloomberg

Top Underwriter Says Dana's Case Is a Dud, Won't Hurt Market - Bloomberg:

"The head of the sukuk industry’s biggest underwriter says a bid by a Middle Eastern energy company to nullify $700 million of its own bonds is bound for failure. What’s more, Dana Gas PJSC’s case will leave the $2 trillion global Islamic finance industry relatively unscathed. That’s the view of Mohamed Rafe Mohamed Haneef, the chief executive officer of CIMB Islamic Bank Bhd., which has underwritten more sukuk deals this year than any other company worldwide, according to data compiled by Bloomberg."



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