1MDB still has MYR32.3B of outstanding debt

KUALA LUMPUR (BERNAMA) – 1Malaysia Development Bhd (1MDB) still has MYR32.3 billion of outstanding debt with four more bonds/sukuk maturing between 2022 and 2039, bringing the total coupon/profit to be paid till maturity to MYR40.51 billion.

The two United States (US) dollar-denominated bonds are valued at USD3.5 billion with coupon rates of 5.75 per cent and 5.99 per cent per annum which will mature in 2022.

Another with a value of USD3 billion with a coupon rate of 4.4 per cent per annum matures in 2023 and the last remaining debt, a MYR5 billion sukuk with a 5.75-per-cent per annum profit rate, with a maturity date of 2039, said 1MDB in a statement yesterday.

“Total of bonds/sukuk principal and coupon/profit to be paid till maturity are MYR40.51 billion. 1MDB will continue its recovery efforts to enable it to pay the bondholders and sukuk-holders upon maturity of these debt instruments.”

As announced by the Ministry of Finance (MoF) previously, Malaysia has received a cash settlement of USD2.5 billion from Goldman Sachs and that amount has been deposited into the Asset Recovery Trust Account (Trust Account) under the custody of the Accountant General’s Department of Malaysia (AGD).