Genting Malaysia raises RM1.3bil from MTNs

KUALA LUMPUR: Genting Malaysia Bhd’s wholly owned subsidiary, GENM Capital Bhd has issued RM1.3bil in nominal value of medium-term notes (MTNs).

In a filing with Bursa Malaysia, Genting Malaysia said it raised RM1.05bil through three tranches of MTNs.These notes offer annual coupons ranging from 4.92% to 5.15% and have maturities spanning five to ten years.

The leisure and hospitality group also raised RM250mil from the first tranche of the second issuance under a RM3bil MTN programme. It carries an annual coupon rate of 5.28% with a tenure of 14 years.

“The proceeds from the issuance of the MTNs shall be utilised for operating expenses, capital expenditure, investment, refinancing, working capital requirements and/or general funding requirements, including to finance the development and/or redevelopment of the properties and/or resorts of GENM and/or its subsidiaries including those located in Genting Highlands,” it said.