1MDB says it’s in default after missing interest payment on $1.75b bond offer

The 1MDB sign as seen through a car. Photo: Bloomberg TV

1Malaysia Development Bhd. said it defaulted on a $1.75 billion bond after missing a $50 million interest payment amid a dispute with Abu Dhabi’s sovereign wealth fund over which party is required to make the payment. The ringgit fell and 1MDB’s dollar bonds slumped.

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