Deals
1MDB to Reach Out to Dollar Bondholders on Payment Default
- Malaysian firm appoints Alvarez & Marsal as financial adviser
- Fund will explain why it didn't make interest payments
US Dollar.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
1Malaysia Development Bhd., the state-owned investment company that defaulted on a $1.75 billion bond last month following a dispute with a co-guarantor, is reaching out to dollar bondholders to explain why it didn’t pay the interest on the notes.
A call to holders of its dollar-denominated securities will take place on May 23, 1MDB said in an e-mailed statement Monday. The Kuala Lumpur-based firm appointed Alvarez & Marsal Asia Ltd. as its financial adviser and D.F. King Ltd., an Orient Capital company, to carry out the bondholder identification and registration process.