01 Nov 2012
(MENAFN) Sharjah-based Dana Gas said it failed to meet the outstanding USD920 million on an Islamic convertible bond due on October 31, hit by payment delays from Egypt and Iraq’s Kurdistan region, reported Arabian Business.
UAE’s largest listed natural gas firm added it had also missed a USD18.75 million accrued profit payment due on October 30.
In 2008, Dana has repurchased about USD80 million of a total USD1 billion sukuk due on October 31 2012, leaving USD920 million outstanding.
Dana attributed its liquidity difficulties largely to delayed payments from Egypt and Kurdistan. Adding that this is a “short-term” issue, and it is committed to reaching a solution with the creditors.
Dana Gas has reported a 27 percent decline in third quarter net earnings to USD28.31 million from USD38.9 million a year earlier.
13 Apr 2026
BBK launches the Youth Advisory Council (YAC) to empower youth and advance innovation
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more