1MDB and IPIC reach agreement over US dollar bonds

Under the agreement reached at the London Court of International Arbitration, 1MDB said among others it has agreed to make certain payments to IPIC and would assume responsibility for all future interest and principal payments for two bonds issued by the 1MDB group of companies due in 2022.

PETALING JAYA: 1Malaysia Development Bhd (1MDB) and Abu Dhabi’s sovereign wealth fund, International Petroleum Investment Company (IPIC) have reached an agreement over arbitration proceedings involving two US dollar bonds amounting to US$3.5bil.

Under the agreement reached at the London Court of International Arbitration, 1MDB said among others it has agreed to make certain payments to IPIC and would assume responsibility for all future interest and principal payments for two bonds issued by the 1MDB group of companies due in 2022.