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Dana Gas PJSC has reached an agreement with key holders of $700 million of its Islamic bonds to restructure the securities, two people with knowledge of the matter said, possibly ending a legal battle that has unnerved the Islamic finance industry.A month later, the company said that it no longer considered its two $350 million mudaraba sukuk to be compliant with Islamic law and proposed replacing them with new securities that yield less than half the average current profit rate of 8 percent.
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