Abu Dhabi’s Ipic to make interest payments on $3.5 bln 1MDB debt | GulfNews.com

Abu Dhabi’s Ipic to make interest payments on $3.5 bln 1MDB debt | GulfNews.com:

"Abu Dhabi’s International Petroleum Investment Co. (Ipic) said on Thursday it would make interest payments due in October and November on two bonds worth $1.75 billion each belonging to units of Malaysia’s state fund 1MDB.

Ipic also said that 1MDB and Malaysia’s finance ministry had promised to indemnify both it and its majority-owned unit Aabar Investments for any non-performance relating to a binding agreement signed in June, without elaborating.

Under that June deal, Abu Dhabi state-owned fund Ipic said it would provide a raft of support including assuming debt belonging to 1MDB and giving around $1 billion in cash to help the Malaysian fund settle other debts."



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