SUBSCRIBERS

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

Anita Gabriel

Published Mon, Apr 25, 2016 · 09:50 PM

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 emirates state-owned entity made its next move in what is being dubbed an "epic game of poker" in the corporate circles.

In a tit-for-tat move …

BT is now on Telegram!

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