KUALA LUMPUR: 1MDB has reiterated that it did not make certain interest payments due recently although it has “more than sufficient funds” due to its ongoing dispute with the International Petroleum Investment Corporation (IPIC).
The payments, it said, were for the Energy Notes and for an earlier interest payment for the USD1.75 billion fixed rate 5.75% notes due 2022, issued by 1MDB Energy (Langat) Limited (Langat Notes).
“All of 1MDB’s rights are reserved with respect to that dispute.
“We are committed to working openly with IPIC to resolve the dispute,” it said in a statement on Wednesday.
It reconfirmed that a call for all its USD-denominated bondholders will take place on May 23.
1MDB was commenting on IPIC making payment of USD52.4 million as interest due on May 11, 2016 in respect of the USD1.75 billion fixed rate 5.99% notes due 2022 issued by 1MDB Energy Limited (Energy Notes).
“We understand that IPIC has made the payment.”
1MDB recently started an engagement process for its USD denominated bondholders and is “encouraging” all holders to register at its micro site at http://sites.dfkingltd.com/1MDB.
The site contains all relevant information and will include regular updates for bondholders. Once registered, registrants will be able to submit questions online through the website.