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Sunday, 23 April 2017

Malaysia Reaches Deal on $2.5 Billion of 1MDB Bonds - Bloomberg

Malaysia Reaches Deal on $2.5 Billion of 1MDB Bonds - Bloomberg:

"The battle over the repayment of 1MDB bonds may be coming to an end. 


Malaysia has reached an agreement to pay Abu Dhabi $2.5 billion as partial debt settlement for embattled government fund 1Malaysia Development Bhd., according to a person familiar with the matter.

Under a deal that’s expected to be announced Monday on the London Stock Exchange, Malaysia will pay Abu Dhabi $1.2 billion before the end of this year, said the person, who asked not to be identified as the information isn’t yet public. Malaysia will also assume the coupon obligations for two dollar bonds issued by 1MDB and co-guaranteed by Middle Eastern sovereign wealth fund International Petroleum Investment Co., the person said. "



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