Dana Gas $1bln Sukuk yield surges to record on debt repayment concern
1/10/2012 4:33:05 PM
Dana Gas PJSC’s (DANA) Islamic bond yield surged to a record after the company failed to provide details on how it plans to repay the $1 billion of Sukuk due in October.
The yield on the 7.5 percent Shariah-compliant notes jumped 504 basis points, or 5.04 percentage points, to 45.4 percent at 4:41 p.m. in Dubai. The price sank to 75.56 cents on the dollar. Dana Gas shares fell 2.2 percent, the most in more than a week, to 44 fils after plunging 38 percent last year.
No comments:
Post a Comment