PM: 1MDB has cleared its bank debts, short-term debts

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Prime Minister Najib Abdul Razak has said 1MDB, which has incurred debts up to RM50 billion as of January 2016, has cleared all its bank debts and short-term debts.

"For now, 1MDB does not have any bank debt and short-term debt," said Najib, in his capacity has finance ministry, said in a written parliamentary reply yesterday.

According to the ministry, 1MDB made the following repayments:

  1. Paid off RM229.5 million revolving credit facility to Affin Bank in full by Nov 23, 2015.
     
  2. Cleared RM950 million standby credit to the government in full by March 31, 2016.
     
  3. Repaid RM2 billion term loan facility to Marstan Investment NV by April 8, 2016.
     
  4. Cleared US$150 million term financing facility with EXIM Bank by April 15, 2016...

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