Dubai-Mubasher: International Petroleum Investment Co (IPIC) has paid interest due on bonds that were issued by the Malaysian state fund, 1Malaysia Development Bhd (1MDB), to fulfill its obligation as a guarantor under the bonds' terms.
The payment was made after 1MDB Energy defaulted on the interest payouts which totaled $50.3 million, UAE’s IPIC said in a statement.
Interest of the $1.75 billion bond was due on 18 April.
