Genting Malaysia prices US$1bil notes to raise cash

The company told Bursa Malaysia yesterday that the notes have been sold to qualified institutional buyers in the United States (US) and to certain non-US persons in offshore transactions outside the US.

PETALING JAYA: Genting Malaysia Bhd’s wholly-owned subsidiary GENM Capital Labuan Ltd had on April 12 priced its US$1bil (RM4.14bil) 3.882% senior unsecured notes to refinance existing borrowings and raise cash for capital needs.

The 10-year notes due in 2031 will be fully guaranteed by Genting Malaysia and are expected to be listed and quoted on the official list of the Singapore Exchange Securities Trading Ltd.