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| 19 June, 2017

UAE's Dana Gas invites sukuk holders to a call to discuss sukuk's "unlawfulness"

The company has invited holders of its outstanding $700mln sukuk to hold a call on June 21 to discuss the planned sukuk restructuring

Sukuk issuance in 2017 reaching $97.9bln, up from $67.4 billion in 2016, said S&P global ratings in a new report. IMAGE USED FOR ILLUSTRATIVE PURPOSE ONLY

Sukuk issuance in 2017 reaching $97.9bln, up from $67.4 billion in 2016, said S&P global ratings in a new report. IMAGE USED FOR ILLUSTRATIVE PURPOSE ONLY

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DUBAI, June 19 (Reuters) - Abu Dhabi-listed Dana Gas has invited holders of its outstanding $700 million sukuk to hold a call on June 21 to discuss the planned sukuk restructuring, it said on Monday.

The energy company plans to provide background on its declaration of the current sukuk's "unlawfulness".

Dana Gas announced last week that its sukuk were not sharia-compliant and were therefore unlawful in the UAE.

(Reporting by Davide Barbuscia; Editing by Kim Coghill) ((Davide.Barbuscia@thomsonreuters.com;))