Deals
1MDB Said to Seek Loan Extension Before $3 Billion Energy IPO
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1Malaysia Development Bhd. is planning to seek another one-month extension on a 2 billion ringgit ($554 million) loan to give it more time to sell a stake in its energy unit, two people familiar with the matter said.
The state-owned investment company needs more time to repay the debt as it’s still in discussions with billionaire T. Ananda Krishnan, Malaysia’s second-richest person, said the people who asked not to be named as the process is private. Krishnan may excercize an option, granted when he sold energy assets to 1MDB in 2012, to buy part of the Edra Global Energy Bhd. unit, the people said. A spokesman for 1MDB declined to comment when contacted by phone.