22.05.2014 - 1MDB secures second extension on US$1.9b bridge loan
State investor 1Malaysia Development Bhd (1MDB) has won a six-month extension on a US$1.9 billion (RM6.1 billion) bridge loan, giving it more time to launch a planned initial public offering (IPO) of its power assets to cut debt, people familiar with the matter said. The IPO, which aims to raise as much as US$2 billion and is seen as critical to reducing the fund's debt load, is now expected in the second half of this year, the people said. Bankers had initially said the IPO could come by mid-year, but it has been pushed back due to delays related to a tender to build a coal-fired power plant that it ultimately won, as well as delays in publishing its financial accounts after a change in auditors...........................................Full Article: Source
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