1Malaysia Development Bhd (1MDB) today  confirmed that it has settled, in full, a RM2 billion loan owed by its operating subsidiary to Malaysian banks.

The loan was settled in advance of the due date, per the terms of the loan facility agreement, its president and group executive director, Arul Kanda, said in a statement in Kuala Lumpur today.

“With the settlement of this loan, I reaffirm 1MDB’s commitment to continue meeting all our debt obligations as they become due,” he said.

1MDB is a strategic development company wholly-owned by the government of Malaysia.

- Bernama