PETALING JAYA: Genting Bhd
has raised RM900mil through medium-term notes (MTNs) to partly fund its acquisition of the remaining shares in Genting Malaysia Bhd (GenM).
In a filing with Bursa Malaysia yesterday, the company said the MTNs have a one-year tenure and carry an interest rate of one-month Kuala Lumpur Interbank Offered Rate plus 1.80% per annum.
Last month, Genting announced its intention to take GenM private at RM2.35 per share, valuing the latter at about RM6.74bil.
In its rationale for the takeover offer, Genting said that by gaining statutory control of GenM and becoming its majority shareholder, this will boost the financial profile of the latter. It said this in the context of GenM’s bid for the New York casino licence, which if successful, will require significant capital investment.
The offer remains open for acceptances until 5pm on Nov 24, 2025.
Genting shares rose 1.8% to close at RM3.46 yesterday.
