KUALA LUMPUR: Genting Bhd
’s (Genting) unit, Genting Vista Bhd, has made a lodgement with the Securities Commission Malaysia (SC) under the Lodge and Launch Framework (LOLA Guidelines) for the establishment of an unrated medium-term notes (MTN) programme with a nominal value of RM5.0 billion.
The tenure of the MTN programme is perpetual, with the tenure of each MTN at least a year, the company said.
It said the proceeds from the MTN programme shall be utilised for defraying the fees and expenses in relation to the establishment of the programme and issuance of the MTN.
"It would also be used for the Genting group’s operating expenses, refinancing of borrowings (including buy-back or voluntary early redemption or mandatory redemption of its debt securities), investment and capital expenditure, working capital requirements, general funding requirements, and other general corporate purposes.
"The proceeds from the first series of MTN under the programme are expected to be utilised to refinance the medium-term notes issued by Genting unit, Genting RMTN Bhd, to part-finance the acquisition of ordinary shares in Genting Malaysia Bhd pursuant to the takeover offer by GENT," it said in a stock exchange filing.
Affin Hwang Investment Bank Bhd and AmInvestment Bank Bhd have been appointed as the joint principal advisers and joint lead arrangers for the MTN programme. - Bernama
