1Malaysia Development Bhd (1MDB) said today that a subsidiary, Powertek Investment Holdings, has fully settled the remaining RM3 billion balance of a RM3.5 billion (US$900 million) syndicated term loan facility.

1MDB said in a statement that the loan facility was entered into in May 2014 with a syndicate of domestic banks, led by Maybank.

It has now been fully paid in advance of the original maturity date of May 2024 as part of 1MDB's rationalisation plan, the fund said.

- Reuters