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Malaysia's 1MDB says $350 million paid to Abu Dhabi for debt deal

Reuters  |  KUALA LUMPUR 

KUALA LUMPUR (Reuters) - State fund 1Malaysia Development Berhad (1MDB) on Friday said it had remitted the equivalent of $350 million to Abu Dhabi's government-owned International Petroleum Investment Co (IPIC). Earlier this week, Abu Dhabi once again extended a deadline for troubled Malaysian fund 1MDB, the subject of allegations of fraud and money-laundering, to make a $603 million debt payment, provided at least $310 million was paid by Aug. 12. The rest of the money plus interest would be payable by Aug. 31."All funds paid to IPIC are from proceeds of the ongoing rationalisation ...

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First Published: Fri, August 11 2017. 12:25 IST