Genting Malaysia issues RM500m MTNs to fund development of Genting Highlands, working capital

• The proceeds from the issuance of the MTNs will be used for, among others, the development of properties and resorts of Genting Malaysia and its subsidiaries, including those in Genting Highlands, Pahang.

KUALA LUMPUR (May 5): Genting Malaysia Bhd via its wholly owned subsidiary GenM Capital Bhd has issued medium-term notes (MTNs) of RM500 million across three tranches.

The three tranches comprise a five-year note amounting to RM250 million with a coupon rate of 5.07%, a seven-year note of RM150 million with a coupon rate of 5.35%, as well as a 10-year tenure of RM100 million, with a coupon rate of 5.52% per annum, payable semi-annually.

This is the third issuance by GenM Capital under the RM5 billion MTN programme, it said.

The proceeds from the issuance of the MTNs will be used for, among others, the development of properties and resorts of Genting Malaysia and its subsidiaries, including those in Genting Highlands, Pahang.

It will also be used for operating expenses, capital expenditure, investment, refinancing, working capital, and general funding requirements.

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

Genting Malaysia shares slipped 0.72% or two sen to close at RM2.76 on Friday (May 5), valuing the company at RM16.39 billion.