Abu Dhabi – Mubasher: NBAD Securities assigned a ‘Strong Performance’ rating for the Sukuk issuance of UAE’s Dana Gas.

The company’s Sukuk has a maturity in October, 2017, with  a yield of 18.8%.

Dana Gas’ Sukuk are convertible and allow obtaining shares in the company, according to the company.

During the first quarter of 2015, Dana maintained strong performance. It recorded average production volume from Egypt and Kurdistan operations at 68,700 barrel per day.