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1MDB TWISTS

1MDB bond default: high-stakes damage not ruled out

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Bondholders and bankers were scrambling to assess the fallout of a bond default triggered after scandal-ridden 1MDB failed to meet a coupon payment of US$50 million on its US$1.75 billion notes even as the development fund sought to assure investors it has the capacity to meet all other financial obligations and that cross defaults are limited to two bond tranches.

Singapore

BONDHOLDERS and bankers were scrambling to assess the fallout of a bond default triggered after scandal-ridden 1MDB failed to meet a coupon payment of US$50 million on its US$1.75 billion notes even as the development fund sought to assure investors it has the capacity to meet