'RM3.8bil of 1MDB bonds used to repay debts'

1Malaysia Development Berhad (1MDB) had used RM3.8 billion of the RM9.6 billion in bonds it raised in 2013 to repay and service its debts, which is a "clear breach" of its offering circular issued to investors about the bond raising exercise.

Petaling Jaya Utara MP Tony Pua said in a press conference today that according to the latest 1MDB financial statement, 1MDB Global Investments had used RM3.8 billion of the total bond amount to be channeled to the parent company, 1MDB, to pay "debts and operating expenses."