1MDB unit settles RM700m syndicated term loan facility

1MDB says Edra Energy’s debt repayment and overall debt reduction is a tangible result of 1MDB’s successful rationalisation plan. ― Reuters pic
1MDB says Edra Energy’s debt repayment and overall debt reduction is a tangible result of 1MDB’s successful rationalisation plan. ― Reuters pic

KUALA LUMPUR, March 25 ― 1Malaysia Development Bhd's unit, Edra Energy (Langat) Sdn Bhd, has fully repaid a RM700 million Syndicated Term Loan Facility to a consortium of domestic banks, as per the terms of the loan agreement.

This debt repayment and overall debt reduction is a tangible result of 1MDB’s successful rationalisation plan, 1MDB said in a statement today.

The loan was first drawn in 2012 to partially finance 1MDB’s acquisition of its energy assets. ― Bernama

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