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GENM Capital prices offering of US$1 bln for senior unsecured notes

13/04/2021 08:43 PM

KUALA LUMPUR, April 13 -- Genting Malaysia Bhd’s wholly-owned subsidiary GENM Capital Labuan Ltd has priced its offering of US$1 billion to the aggregate principal amount of 3.88 per cent senior unsecured notes that is due 2031.

In a filing with Bursa Malaysia today, Genting Malaysia said the notes would be fully and unconditionally guaranteed by the company.

“The notes have been offered and sold in the United States (US) only to qualified institutional buyers and to certain non-US persons in offshore transactions outside the US in reliance on Regulation S under the Securities Act,” said Genting Malaysia. 

It added that the notes were expected to be listed and quoted on the Official List of the Singapore Exchange Securities Trading Ltd and listed but not quoted for trading on Bursa Malaysia Securities Bhd.  

Genting Malaysia said Both Standard & Poor’s Ratings Services and Fitch Ratings Ltd have assigned a rating of BBB to the notes.

Citigroup Global Markets Singapore Pte Ltd, J.P. Morgan (S.E.A.) Ltd, CIMB Bank Bhd, Labuan Offshore Branch and DBS Bank Ltd are the joint global coordinators for the offering.

Meanwhile, Citigroup Global Markets Singapore Pte Ltd, J.P. Morgan (S.E.A.) Limited, CIMB Bank, Labuan Offshore Branch, DBS Bank Ltd and BNP Paribas are the joint bookrunners and joint lead managers for the offering.



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