KUALA LUMPUR: 1Malaysia Development Bhd (1MDB) today announced that it has now fully repaid all its bank debt and short-term debt. In a statement today, 1MDB said it has repaid a US$150 million term financing facility to EXIM Bank in advance of the repayment date.
“With this payment, 1MDB has now fully repaid all its bank debt and short-term debt,” it said. The EXIM bank repayment was made by 1MDB subsidiary, Timeline Zone Sdn Bhd. 1MDB said the facility was entered into in March 2015 and proceeds were utilised, among others, to finance general corporate purposes including, but not limited to, working capital requirements and energy business-related expenses.
The company has announced debt principal repayments of RM7.25 billion over the past four weeks. It also retained a cash surplus of RM2.3 billion for infrastructure and other debt service requirements.
