You are here

1MDB TWISTS

IPIC to pay interest only if 1MDB defaults

Coupon payment on 1MDB bonds hangs in the balance as spat with Abu Dhabi state-owned entity worsens

1m.jpg
As the grace period for a US$50.31 million interest payment on bonds issued by 1Malaysia Development Berhad drew nail-bitingly close and the troubled firm's discord with Abu Dhabi's International Petroleum Investment Company (IPIC) over who should pay for it flared up, the Gulf emirates state-owned entity made its next move in what is being dubbed an "epic game of poker" in the corporate circles.

Singapore

AS the grace period for a US$50.31 million interest payment on bonds issued by 1Malaysia Development Berhad drew nail-bitingly close and the troubled firm's discord with Abu Dhabi's International Petroleum Investment Company (IPIC) over who should pay for it flared up, the Gulf...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes