Abu Dhabi – Mubasher: Dana Gas’ consensual deal with the sukukholders is a “good deal”, CEO Patrick Allman-Ward has told Bloomberg TV.

Earlier in May, the UAE-based energy producer stated that it reached an agreement with the Ad-Hoc committee of sukukholders over the terms and conditions of the restructuring and refinancing plan for its $700 million Sukuk Al-Mudarabah.

Dana did not want to be in a litigation with its sukukholders, Allman-Ward added.

When asked about the possibility that this dispute would undermine Dana’s ability to issue sukuk in the future, the CEO said that “his short answer would be no”, as the company has expanded and invested in Iraq and Egypt.

“We have closed deals that generated billions and billions of dollars,” Bloomberg TV reported, citing Allman-Ward as saying.