Deutsche-led group in talks over US$975m 1MDB debt
If lenders seek repayment leading to default, it will trigger cross default on rest of RM42b borrowings
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Anita Gabriel
Singapore
THE financial plight of the debt-laden 1Malaysia Development Bhd (1MDB) is set to deepen, as jittery lenders of a US$975 million syndicated loan led by Deutsche Bank plan to ask the troubled state-owned firm to pay up before the loan falls due in less than four months.
The Business Times understands that the offshore loan, led by Deutsche Bank Singapore and syndicated to five Gulf banks including Abu Dhabi Commercial Bank, is guaranteed by the Malaysian government.
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