Abu Dhabi – Mubasher: Dana Gas plans to use the proceeds of its Egyptian assets' sale to pay down its $397 million Sukuk.
The company clarified that if the sale of the Egyptian assets is completed, the proceeds will pay the Sukuk as required by the terms of the Sukuk, according to the company's disclosure to the Abu Dhabi Securities Exchange (ADX) on Thursday.
Noteworthy to mention that in early April, the company announced that it is still carrying out a strategic review on its assets in Egypt for their potential sale, as the circumstances of the coronavirus (COVID-19) pandemic have delayed the process, which should have been conducted by the end of March.
