How the 'Big Flip' of 1MDB bonds happened in 2009

-A +A

SINGAPORE (Feb 1): A Bloomberg newsbreak on how Low Taek Jho, or Jho Low, made millions from a 2009 bond sale has put the spotlight on the first debt issued by 1Malaysia Development Bhd (1MDB), when it was known as the Terengganu Investment Authority (TIA).

The 30-year Islamic bonds, which pay a coupon rate of 5.75%, were sold at a steep discount by AmInvestment on a bought deal and not through a tender, raising a hue and cry among bankers at the time.

Investigators are now looking into it and have discovered the following... (Click here to read the full story)