KUALA LUMPUR (April 26): International Petroleum Investment Co (IPIC) will honour its obligation as a guarantor to pay the US$50.31 million (RM195.2 million) interest due to 1Malaysia Development Bhd’s (1MDB) bondholders, if the latter defaults.

But this may not necessarily be music to 1MDB management’s ears.

This is because IPIC also demands for indemnities that the Abu Dhabi’s sovereign wealth fund and its subsidiary Aabar Investment PJS are entitled to in return for the guarantee of the two tranches of US$1.75 billion bonds issued by 1MDB’s unit 1MDB Energy (Langat) Ltd.

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