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Regulatory Story
Company IPIC GMTN Limited
TIDM 61HK
Headline Interest Payment Under Certain 1mdb Notes
Released 09:06 29-Apr-2016
Number 8054W09

RNS Number : 8054W
IPIC GMTN Limited
29 April 2016
 

 

 

 

 

 

Scheduled Interest Payment under certain 1MDB Notes

·            IPIC pays interest following 1MDB's default on its bond

·            IPIC will make a written demand of 1MDB and MoF in respect of their joint indemnity of IPIC under the Binding Term Sheet 

Further to the announcement issued by IPIC GMTN Limited on 25 April 2016 (RNS Number 1844W), International Petroleum Investment Company PJSC (IPIC) has today made full payment of the interest due and payable by 1MDB Energy (Langat) Limited and 1Malaysia Development Berhad (1MDB) on 18 April 2016 in respect of the U.S.$1,750,000,000 fixed rate 5.75 per cent. notes due 2022 issued by 1MDB Energy (Langat) Limited and guaranteed by 1MDB (the Notes). IPIC has made such payment out of existing liquidity and pursuant to its obligations under the guarantee of the Notes.

Following this 1MDB default, IPIC will make a written demand in respect of its indemnity for repayment of the interest payment (being an amount of U.S.$50,312,500.00) from Minister of Finance, Inc., Malaysia (MoF) and 1MDB pursuant to the terms of the Binding Term Sheet (as further described in previous announcements issued by IPIC GMTN Limited: RNS Number 7064P, RNS Number 4672V and RNS Number 1844W).

 


This information is provided by RNS
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