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)