1MDB coupon payment deadline looms amid IPIC row

Hong Kong

THE grace period for the US$50 million coupon payment due on a 1Malaysia Development Bhd (1MDB) bond expires at the weekend with 1MDB saying that Abu Dhabi sovereign fund International Petroleum Investment Company (IPIC) has assumed responsibility for making the payment.

While the interest on the US$1.75 billion bond is widely expected to be paid, the stand-off between the two state firms, who are locked in a wider dispute, has worried markets and left bondholders waiting on the payment that was due on Monday.