PM: 1MDB has cleared its bank debts, short-term debts
Prime Minister Najib Abdul Razak has said 1MDB, which has incurred debts up to RM50 billion as of January 2016, has cleared all its bank debts and short-term debts.
"For now, 1MDB does not have any bank debt and short-term debt," said Najib, in his capacity has finance ministry, said in a written parliamentary reply yesterday.
According to the ministry, 1MDB made the following repayments:
- Paid off RM229.5 million revolving credit facility to Affin Bank in full by Nov 23, 2015.
- Cleared RM950 million standby credit to the government in full by March 31, 2016.
- Repaid RM2 billion term loan facility to Marstan Investment NV by April 8, 2016.
- Cleared US$150 million term financing facility with EXIM Bank by April 15, 2016...