Goldman Pays Malaysia $2.5 Billion 1MDB Payment
- Malaysia to use the funds to help repay outstanding 1MDB debt
- Goldman reached an agreement with Malaysia to settle 1MDB case
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Goldman Sachs Group Inc. has made the $2.5 billion payment it pledged to the Malaysian government to settle allegations of misconduct related to 1MDB, and the funds will be used to repay outstanding debt of the disgraced state fund, according to a person familiar with the matter.
Malaysia plans to use the funds to help repay 1MDB’s outstanding debt, including $3.5 billion of bonds due in 2022 and 2023, which are now held under the finance ministry, according to the person, who asked not to be named as the information is private. The finance ministry confirmed that it has received the money in its escrow account on Thursday, according to a spokesman.