1Malaysia Development Berhad (“1MDB”) understands that International Petroleum Investment Company (“IPIC”) has made payment of USD52.4 million of interest due on 11 May 2016 in respect of the USD 1.75 billion fixed rate 5.99% notes due 2022 issued by 1MDB Energy Limited (“Energy Notes”).
Whilst 1MDB has more than sufficient funds to have made the interest payment, it has not done so for the Energy Notes and for an earlier interest payment for the USD1.75 billion fixed rate 5.75% notes due 2022 issued by 1MDB Energy (Langat) Limited ("Langat Notes"), due to the ongoing dispute between 1MDB and IPIC. All of 1MDB’s rights are reserved with respect to that dispute.
1MDB highlights that it is committed to working openly with IPIC to resolve the dispute.
1MDB has recently started an engagement process for its USD denominated bondholders and encourages all holders to register at its microsite at http://sites.dfkingltd.com/1MDB. This site contains all relevant information and will include regular updates for bondholders. Once registered, registrants will be able to submit questions online through the website. Furthermore, a call for all USD denominated bondholders will take place on 23 May.