Genting Malaysia issues RM400mil medium-term notes

KUALA LUMPUR: Genting Malaysia Bhd’s wholly-owned subsidiary GENM Capital has issued medium-term notes with a nominal value of RM400 million.

The leisure and hospitality group said this comprises tranche one of the fifth issuance under the RM5 billion MTN programme worth RM300 million and tranche one of the third issuance under the RM3 billion MTN programme worth RM100 million.

The RM300 million notes have a tenure of five years and a coupon rate of 4.92 per cent per annum, payable semi-annually, while the RM100 million notes have a 14-year tenure and a coupon rate of 5.28 per cent per annum, payable semi-annually, it said in a filing with Bursa Malaysia today.

"The proceeds from the issuance of MTNs will be utilised for operating expenses, capital expenditure, investment, refinancing, working capital requirements and general funding requirements.

"(This includes financing) the development and redevelopment of the properties or resorts of Genting Malaysia and its subsidiaries, including those located in Genting Highlands, Pahang,” it added.

AmInvestment Bank Bhd and Hong Leong Investment Bank Bhd are joint lead managers for the issuance. - Bernama