Abu-Dhabi - Mubasher: Dana Gas on Thursday announced that it had bought back $14 million of Nile Delta sukuk certificates in October.

The repurchased sukuk will be delivered to Bank of New York Mellon, which is the principal paying agent of the deal, in due course to be cancelled, the UAE-based energy producer said in a statement to the Abu Dhabi Securities Exchange (ADX).

This cancellation would bring the total outstanding of Nile Delta sukuk certificates to around $416 million, Dana added.

In October, the Middle East’s largest regional natural gas company said that it had bought back $99 million of 4% Nile Delta sukuk certificates.

During the first nine months of 2018, Dana’s profit plunged 67% year-on-year to AED 149 million, compared to AED 458 million in the year-ago period.  

By 2:00 pm Abu Dhabi time, the company’s stock dipped 1.90% to close the last session of the week at AED 1.04.