Bloomberg News

Dana Gas to Discuss $1 Billion Bond Refinancing on Nov. 22

November 17, 2011

(Updates with sukuk maturity in third paragraph.)

Nov. 17 (Bloomberg) -- Dana Gas PJSC, a fuel producer with most of its output coming from Egypt, said its board will meet on Nov. 22 in the Kurdistan region of Iraq to discuss refinancing its Shariah-compliant bond.

The company will discuss the status of its current projects in the United Arab Emirates, Egypt and Kurdistan, and future business opportunities, according to a statement on the Abu Dhabi securities exchange.

Dana Gas’s $1 billion sukuk matures in October 2012. The yield on the 7.5 percent security jumped seven basis points today to 21.6 percent, according to Bloomberg prices.

--Editors: John Buckley, Raj Rajendran

To contact the reporters on this story: Dana El Baltaji in Dubai at delbaltaji@bloomberg.net; Ayesha Daya in Dubai at adaya1@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net


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