Malaysias 1MDB says $350 million paid to Abu Dhabi for debt deal
Malaysias 1MDB says $350 million paid to Abu Dhabi for debt deal
State fund 1Malaysia Development Berhad (1MDB) has remitted the equivalent of $350 million to Abu Dhabi`s government-owned International Petroleum Investment Co (IPIC), it said on Friday.
"All funds paid to IPIC are from proceeds of the ongoing rationalisation programme," 1MDB said in a statement.
Abu Dhabi this week extended a deadline for the troubled Malaysian fund to make a $603 million debt payment, provided at least $310 million was paid by August 12.
The balance of the payment obligation to IPIC was now due on August 31, 1MDB added.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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