| Malaysia's 1Malaysia Development Berhad (1MDB) confirmed on Tuesday, April 26 that the non-payment of US$ 50.3 million (S $ 68.1 million) in interest over a now defaulted US $ 1.75 billion bond had resulted in cross-defaults for RM 7.4 billion (S $ 2.6 billion) in other bonds.
The failure to pay interest that is due on Monday, April 25 arose due to a dispute with International Petroleum Investment Company (IPIC), an Abu Dhabi state-owned sovereign wealth fund, which had guaranteed two US $ 1.75 billion 1MDB funds due in 2022...............................................Full Article: Source
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