Dana Gas Fully Redeems USD 309 Million of Outstanding Sukuk

United Arab Emirate-based energy producer, Dana Gas, has announced that it has fully redeemed its outstanding USD 309 million Sukuk on the 31st of October 2020, aided by a USD 90 million credit facility from Mashreq Bank as well as the sale of Dana Gas’ interests in Egypt, according to media reports.

The receipts of the funds were confirmed by the principal paying agent, who will disburse the funds to clearing systems on the 2nd of November 2020, to be received by clearing system participants on the 3rd of November 2020.

According to media reports, the Sukuk, which was originally issued with a balance of USD 530 million on the 31st of October 2017, has had repurchases of USD...