The US$4.5bil (RM16.9bil) rescue of a struggling Malaysian state fund is good news for the Government but will load Abu Dhabi’s International Petroleum Investment Co (IPIC) with extra debt that may worry investors in its bonds.
Last month, IPIC agreed to provide 1MDB with US$1bil (RM3.76bil) in cash, allowing the Malaysian fund to repay a US$975mil (RM3.66bil) loan to a global banking syndicate.
The Abu Dhabi firm also agreed to assume US$3.5bil (RM13.15bil) of 1MDB debt, and forgive an undisclosed amount of debt owed to IPIC by 1MDB, in exchange for assets which have not been named.
Click Here To Register For Free Trial Services OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
Last month, IPIC agreed to provide 1MDB with US$1bil (RM3.76bil) in cash, allowing the Malaysian fund to repay a US$975mil (RM3.66bil) loan to a global banking syndicate.
The Abu Dhabi firm also agreed to assume US$3.5bil (RM13.15bil) of 1MDB debt, and forgive an undisclosed amount of debt owed to IPIC by 1MDB, in exchange for assets which have not been named.
Click Here To Register For Free Trial Services OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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