05.05.2016 - 1MDB Said to Seek Waiver on Early Debt Repayment After Default
1Malaysia Development Bhd., the state-owned investment company that defaulted on a $1.75 billion bond last week, is asking investors to hold off any request for early repayment on its Islamic debt, according to a person familiar with the matter. 1MDB has submitted a request to the trustee of 7.24 billion ringgit ($1.8 billion) of sukuk for a waiver on the "acceleration process" for the bonds, the person said, asking not to be identified because the information isn’t public. The investment firm needs the support of at least 25 percent of bondholders for the waiver, the person said...............................................Full Article: Source
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