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[KUALA LUMPUR] Malaysian state investor 1Malaysia Development Bhd missed the repayment of a RM2 billion (US$563 million) bridge loan that was due end-December, two people close to the matter said on Tuesday.
The firm, known as 1MDB, is now exploring ways to settle the payment to lenders Maybank and RHB, which is now due Jan 30, the people said.
The latest development casts a cloud over a long-planned US$3 billion initial public offering of 1MDB power assets, designed to help cut the firm's US$11.8 billion borrowings.
1MDB officials were not immediately available to comment. The people familiar with the situation spoke on condition of anonymity as the matter was still private.