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FINANCIAL NEWS
Malaysia’s 1MDB, UAE sign USD1b finance deal
31 May 2015
(MENAFN) Abu Dhabi has granted Malaysia’s loss-making state fund 1MDB a finance deal worth USD1 billion to help the government in restructuring its long-lasting debt lines, Arabian Business reported.
The funding, undertook by Abu Dhabi’s International Petroleum Investment Company (IPIC) and its Aabar Investment unit, is going to help Malaysia pay USD975 million back to international banks.
“This agreement marks a significant step towards reducing 1MDB’s overall debt levels, and is a crucial part of the rationalization plan I presented to cabinet earlier (Friday),” an official said in a statement.
More News
05 Aug 2024
With the support of BBK, BIBF and BJA hold a graduation ceremony for journalists completing the training program
29 Jul 2024
BBK discloses its financial results for the half year ended 30th June 2024
09 Jun 2024
BBK Successfully Closes USD Benchmark Bond Offering at $500 Million, in Collaboration with a Consortium of Regional and International Banks.
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