UAE’s Dana Gas says will work to reach standstill agreement with sukuk holders

DUBAI

Abu Dhabi-listed Dana Gas is aiming for an agreement with the holders of its outstanding sukuk that would be similar to a standstill agreement the company reached with its creditors in 2012, the company said on Thursday.

The 2012 agreement came after a technical default on a sukuk maturing in October that year, and was followed by negotiations with the debt holders.

The company plans to reach a similar agreement with the holders of some $700 million in outstanding sukuk that will mature in October, it said.