UAE's IPIC says paid interest on bonds after 1MDB default

HONG KONG, April 29 (Reuters) - The United Arab Emirates' International Petroleum Investment Co (IPIC) said on Friday it had paid interest due on bonds issued by 1MDB Energy (Langat) to fulfil its obligation as guarantor under the bonds' terms.
IPIC said the payment was made after Malaysian state fund 1Malaysia Development Bhd (1MDB) defaulted on the payments and that it would now demand indemnity for repayment of the $50.3 million interest.
The coupon on the $1.75 billion bond was due on April 18.
1MDB is disputing its obligations to IPIC under a debt restructuring agreement reached last June.
IPIC said on Monday it would make the interest payment only after 1MDB officially defaulted.
An emailed request for comment to 1MDB was not immediately answered.