UPDATE 1-UAE's IPIC says would make 1MDB payment after default

DUBAI/KUALA LUMPUR, April 25 (Reuters) - Abu Dhabi's

state-owned International Petroleum Investment Co

(IPIC) said it would make a $50.3 million interest payment to

holders of notes issued by Malaysian state fund 1MDB, but only

after 1MDB defaults on its payments.

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