1MDB settles RM3 billion balance of syndicated loan

1Malaysia Development Bhd’s (1MDB) subsidiary, Powertek Investment Holdings Sdn Bhd, has fully settled the remaining RM3 billion of a RM3.5 billion Syndicated Term Loan facility.

In a statement Friday, the company said the loan facility was entered into in May 2014 with a syndicate of domestic banks, led by Maybank.

"It has now been fully prepaid, in advance of the original maturity date of May 2024, as part of the successful 1MDB rationalisation plan," 1MDB said.