24.05.2016 - Confidence wanes in Malaysia govt-backed 1MDB bonds
The fortunes of bonds in Malaysia's troubled investment fund 1MDB are diverging this month: Those guaranteed by Abu Dhabi's sovereign wealth fund have rallied, while notes with support from Malaysia's own government have dropped. Its 4.4 per cent 2023 notes, backed by a letter of support from Malaysia's government, slumped 6.4 per cent in May, set for the worst slide in 16 months. The fund's 5.99 per cent 2022 bonds, on which Abu Dhabi's International Petroleum Investment Co (IPIC) paid interest earlier this month in its role as guarantor, gained 1.9 per cent, the most since at least September 2014...............................................Full Article: Source
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