1MDB unit settles RM700 mln syndicated term loan facility

1Malaysia Development Bhd's unit, Edra Energy (Langat) Sdn Bhd, has fully repaid a RM700 million Syndicated Term Loan Facility to a consortium of domestic banks, as per the terms of the loan agreement.

This debt repayment and overall debt reduction is a tangible result of 1MDBs successful rationalisation plan, 1MDB said in a statement today.

The loan was first drawn in 2012 to partially finance 1MDBs acquisition of its energy assets.