Genting Malaysia issues RM2.6bil debt notes
Proceeds to be used for redevelopment of group’s properties, resorts
KUALA LUMPUR: Genting Malaysia Bhd has issued RM2.6bil in debt notes to finance the development and re-development of properties and resorts of the group, including those located in Genting Highlands.
It said in a statement yesterday that Genting Malaysia Capital Bhd had issued the medium term notes (MTN) in nominal value under the RM3bil MTN and guaranteed by Genting Malaysia Bhd.
Tranche one is RM1.4bil, which is issued at par with a tenure of five years and a coupon rate of 4.98% per annum, payable semi-annually.
Tranche two is RM750mil, which is also issued at par with a tenure of 10 years with a coupon of 5.3% per annum, payable semi-annually while tranche three is RM450mil, which is also issued at par with a tenure of 15 years and a coupon of 5.58% per annum, payable semi-annually.
Genting Malaysia said the proceeds from the issuance of the MTNs would be for operating expenses, capital expenditure, investment, refinancing, working capital requirements and general funding requirements.
The requirements include to finance the development and/or re-development of the properties and/or resorts.
CIMB Investment Bank Bhd and Maybank Investment Bank Bhd are the joint principal advisers and joint lead arrangers for the MTN programme.
The joint lead managers and joint book runners for the issuance are AmInvestment Bank Bhd, CIMB Investment Bank Bhd, Hong Leong Investment Bank Bhd, Maybank Investment Bank Bhd, OCBC Bank (Malaysia) Bhd and RHB Investment Bank Bhd.