Dana Gas PJSC said it will honor debt obligations as the United Arab Emirates-based energy company faces a $1 billion Islamic bond maturing in October.
“Dana Gas over the last four years has timely and consistently paid, on or before the due date, the sukuk profit amount and will continue to do so pursuant with its obligations,” the company said in a statement to the Abu Dhabi bourse today.
Dana Gas, with most of its output coming from Egypt and the Kurdish region of northern Iraq, appointed a financial adviser and will report financial results Jan. 31 and provide an operational update, it said. The company got a total of $177 million in payments from Egypt and the Kurdish region last year, it said today.
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