Genting Malaysia said S&P Global Ratings and Fitch Ratings, Ltd have assigned ratings of BB (stable) and BBB- to the notes, respectively.
KUALA LUMPUR: Genting Malaysia Bhd
’s indirect wholly-owned subsidiaries, Genting New York LLC (GENNY) and GENNY Capital Inc, have priced their offering of US$525mil in aggregate principal amount of 7.250% senior unsecured notes due 2029.
In a filing with Bursa Malaysia, it said S&P Global Ratings and Fitch Ratings, Ltd have assigned ratings of BB+ (stable) and BBB- to the notes, respectively.
Additionally, Genting Malaysia said the approval in-principle had been received for the listing of the notes on the Singapore Exchange Securities Trading Ltd.
“The offering is being undertaken by GENNY to refinance existing indebtedness. It is contemplated that concurrently with the issuance of the notes, GENNY will enter into a new senior secured credit facility, which will include a US$775mil delayed draw term loan facility and a US$150mil revolving credit facility,” it said.
