Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  ABU DHABI SECURITIES MARKET  >  Dana Gas Co PJS    DANA   AED000701014

DANA GAS CO PJS (DANA)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesChartsNewsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Dana Gas PJS : sukuk offer rejected

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/14/2018 | 10:18am CET

Creditors of UAE based energy producer Dana Gas have turned down a proposal by the firm to restructure its $700mn of Islamic bonds and are expecting better terms, two sources familiar with the matter told Reuters.

Dana refused to redeem its sukuk on maturation last year, claiming that the instruments were no longer sharia-compliant because of changes in Islamic finance practice.

Legal proceedings between Dana and its creditors continue in UK and UAE courts, but negotiations to achieve an out-of-court settlement have so far reached an impasse.

The latest restructuring proposal was put forward by the company to sukuk holders about two weeks ago, according to Reuters.

Dana and a committee representing creditors did not immediately respond to requests for comment.

The company offered to exchange 10% of the sukuk in cash and to roll over the remaining 90% over four years at a yearly profit rate of 4%, said the sources. It also offered to buy back up to half of the bonds at a 15% discount.

The creditors' committee, advised by investment bank Moelis, rejected Dana's proposal.

(c) 2018 ITP Business Publishing Ltd. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on DANA GAS CO PJS
02/19DANA GAS PJS : British High Court rejects Dana Gas’ requests
AQ
02/19DANA GAS PJS : ADX sheds 11 pts early Monday
AQ
02/14DANA GAS PJS : creditors reject $700m sukuk restructuring proposal
AQ
02/14DANA GAS PJS : sukuk offer rejected
AQ
02/13DANA GAS PJS : posts $83m FY profit
AQ
02/12DANA GAS PJS : swings to $83M profit
AQ
02/12DANA GAS PJS : announces preliminary financial results for 2017
AQ
02/11DANA GAS PJS :  Dana Gas receives $164m in arrears from Egypt in 2017
AQ
02/11DANA GAS PJS : swings to $83M profit
AQ
02/11DANA GAS PJS : Business News Wrap-up
AQ
More news
Financials ( AED)
Sales 2018 1 509 M
EBIT 2018 731 M
Net income 2018 290 M
Debt 2018 1 355 M
Yield 2018 -
P/E ratio 2018 13,43
P/E ratio 2019 11,86
Capi. / Sales 2018 4,32x
Capi. / Sales 2019 3,46x
Capitalization 5 163 M
Chart DANA GAS CO PJS
Duration : Period :
Dana Gas Co PJS Technical Analysis Chart | DANA | AED000701014 | 4-Traders
Technical analysis trends DANA GAS CO PJS
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 4
Average target price 1,13  AED
Spread / Average Target 52%
EPS Revisions
Managers
NameTitle
Patrick Allman-Ward CEO & Executive Non-Independent Director
Hamid Dhiya Jafar Chairman
Christopher James Hearne Chief Financial Officer
Iman Hill Technical Director & General Manager-UAE
Sultan bin Ahmed bin Sultan Al-Qasimi Non-Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
DANA GAS CO PJS-9.88%1 406
ROYAL DUTCH SHELL-7.32%267 089
PETROCHINA COMPANY-0.87%219 642
TOTAL-1.91%146 627
PETROLEO BRASILEIRO SA PETROBRAS26.02%85 142
STATOIL-0.51%75 929