Tuesday 16 Apr 2024
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KUALA LUMPUR (May 30): 1Malaysia Development Bhd (1MDB) said today it has paid a RM143.75 million coupon payment for a RM5 billion 5.75% Islamic medium term notes (IMTNs) due 2039.
 
The payment is in line with the IMTN coupon payment schedule.

The payment comes after 1MDB stated it was in dispute with International Petroleum Investment Co (IPIC) over interest payments due on the US$1.75 billion fixed rate 5.75% notes due 2022 that were issued by 1MDB (Langat) Ltd, and the US$1.75 billion fixed rate 5.99% notes due 2022 that were issued by 1MDB Energy Ltd.

In a statement today, 1MDB president and group executive director Arul Kanda Kandasamy said the strategic development company has ample liquidity to make interest payments and service its current debt obligations.
 
“1MDB reiterates that, notwithstanding the dispute with IPIC, it will continue to honour current debt obligations.

"1MDB remains focused on resolving the dispute with IPIC, and is committed to a continued process of dialogue and working toward a solution that is in the best interest of all stakeholders,” added Arul Kanda.

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