KUALA LUMPUR/SINGAPORE May 21State investor
1Malaysia Development Bhd (1MDB) has won a six-month extension
on a 6.17 billion ringgit ($1.9 billion) bridge loan, giving it
more time to launch a planned IPO of its power assets to cut the
debt, people familiar with the matter said.
It marks the second time that 1MDB has delayed
the loan repayment, after it secured a six-month extension last
year. The loan from Maybank Investment Bank Bhd, is now due in
November, said the people, who declined to be identified as the
matter is private, said.
Shahriza Embi, senior vice-president of corporate
communications at 1MDB, said in an email that the company would
not comment on the matter.
Maybank did not reply to an email seeking comment.
(Reporting by Yantoultra Ngui in Kuala Lumpur and Saeed Azhar
in Singapore; Editing by Denny Thomas and Edwina Gibbs)