Genting upsizes bond issue by RM427mil

KUALA LUMPUR: Genting Malaysia Bhd’s subsidiaries, Genting New York LLC (Genny) and Genny Capital Inc have priced an additional US$100mil (RM427mil) of 7.25% senior unsecured notes, due in 2029.

In a filing with Bursa Malaysia, the group said the additional notes form part of the same series as the initial US$525mil aggregate principal amount of notes priced on Sept 10.

Genting Malaysia said approval in-principle has been received for the listing of the notes on the Singapore Exchange Securities Trading Limited.

S&P Global Ratings and Fitch Ratings, Ltd have assigned ratings of BB+ (stable) and BBB- (negative) to the notes, respectively. “The net proceeds from these additional notes will be used for repaying existing indebtedness,” it said.