Press Release

Date: 
30-05-2016
1MDB undertakes coupon payment on 5.75% 2039 Islamic Medium Term Notes
1MDB undertakes coupon payment on 5.75% 2039 Islamic Medium Term Notes

1MDB undertakes coupon payment on 5.75% 2039 Islamic Medium Term Notes

1Malaysia Development Berhad (“1MDB”) has today undertaken a scheduled coupon payment amounting to RM143.75 million on its RM5 billion 5.75% Islamic Medium Term Notes (“IMTNs”) due 2039.

The payment has been made in line with the IMTN coupon payment schedule.

Arul Kanda, President & Group Executive Director, 1MDB, said: “1MDB has ample liquidity to make interest payments and service its current debt obligations. The strong progress achieved on the rationalisation plan further supports 1MDB’s stable financial position.”

The payment comes after 1MDB stated that it was in dispute with International Petroleum Investment Company (“IPIC”) over interest payments due on the USD1.75 billion fixed rate 5.75% notes due 2022 that were issued by 1MDB (Langat) Limited (“Langat Notes”), and the USD1.75 billion fixed rate 5.99% notes due 2022 that were issued by 1MDB Energy Limited (“Energy Notes”).

Arul Kanda, President & Group Executive Director, 1MDB, said: “1MDB reiterates that, notwithstanding the dispute with IPIC, it will continue to honour current debt obligations. 1MDB remains focused on resolving the dispute with IPIC, and is committed to a continued process of dialogue and working toward a solution that is in the best interests of all stakeholders.”