Malaysia’s 1MDB pays interest on debt after missing prior payments

Malaysia-based state investment company 1Malaysia Development Bhd. (1MDB) paid interest outstanding on its Islamic debt after missing two payments on other securities earlier.

1MDB made a scheduled payment of MYR 143.8m ($34.9m) on its MYR 5bn 5.75% notes due 2039. 

The company had previously missed the coupons for two sets of dollar-denominated bonds amid a dispute with Abu Dhabi’s International Petroleum Investment Co., which had guaranteed the debt.

That led to a default by 1MDB in April, adding to the financial scandals for the company that is already a target of global investigations into allegations of money laundering and embezzlement. 1MDB has consistently denied wrongdoing.

Source: Bloomberg

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