1MDB is pleased to announce that it has repaid a US$ 150 million term financing facility from EXIM Bank in advance of the repayment date. With this payment, 1MDB has now fully repaid all its bank debt and short term debt.
The EXIM bank repayment was made by 1MDB subsidiary Timeline Zone Sdn. Bhd. The facility was entered into in March 2015 and proceeds were utilised, amongst others, to finance general corporate purposes including, but not limited to, working capital requirements and energy business related expenses.
Over the past four weeks, 1MDB has announced debt principal repayments of approximately RM7.25 billion.
This repayment today marks the final milestone, with all of 1MDB bank debt and short term debt now fully repaid.
1MDB retains a cash surplus of approximately RM 2.3 billion for infrastructure and other debt service requirements.