Dana Gas PJSC announced that it has entered into a USD 90 million corporate facility from Mashreq Bank. The one-year facility is priced at an initial 3% per annum margin over LIBOR. The credit facility can be extended for a further four years at the Company's option. The credit facility follows Dana Gas's announcement in the second quarter that it was exploring financial options to settle its Sukuk by the due date. In conjunction with the Company's cash reserves, the facility will allow full redemption of the Sukuk at the maturity date of October 31, 2020. The outstanding total for the Sukuk is currently USD 309 million. The Mashreq facility will be repaid when the planned sale of Dana Gas's Egyptian assets is completed.