Homepage
PR Newswire
25-04-2016, 11:16 AM
More trouble for 1MDB...
1MDB seeks waivers from bondholders
This article first appeared in The Edge Financial Daily, on April 25, 2016.
KUALA LUMPUR: Today is an important day for 1Malaysia Development Bhd (1MDB). It marks the end of a five working days’ grace period for the beleaguered strategic investment fund to pay the US$50 million (RM194 million) interest payment for the US$3.5 billion bond it issued in 2012.
The interest payment was due last Monday. If 1MDB did not make the payment, the fund would be in default. Consequently, this would trigger cross-default for its two other tranches of bonds — RM5 billion Islamic sukuk and RM800 million Social Security Organisation loans — which are both guaranteed by the government.
...
http://www.theedgemarkets.com/sg/article...ondholders
1MDB seeks waivers from bondholders
This article first appeared in The Edge Financial Daily, on April 25, 2016.
KUALA LUMPUR: Today is an important day for 1Malaysia Development Bhd (1MDB). It marks the end of a five working days’ grace period for the beleaguered strategic investment fund to pay the US$50 million (RM194 million) interest payment for the US$3.5 billion bond it issued in 2012.
The interest payment was due last Monday. If 1MDB did not make the payment, the fund would be in default. Consequently, this would trigger cross-default for its two other tranches of bonds — RM5 billion Islamic sukuk and RM800 million Social Security Organisation loans — which are both guaranteed by the government.
...
http://www.theedgemarkets.com/sg/article...ondholders
“夏则资皮，冬则资纱，旱则资船，水则资车” - 范蠡