Genting Berhad announces new notes programme
The group continues with its attempts to buy the remaining shares in Genting Malaysia.
Malaysia.- Genting Berhad has announced the launch of a new MYR5bn (US$1.22bn) medium-term notes programme and issued another MYR1.35bn (US$328m) in notes aimed at refinancing debt and supporting its efforts to take complete control of Genting Malaysia. The move takes it recent fundraising to MYR3bn (US$729m) across four issuances in just a few weeks.
The MYR1.35bn in notes was issued through Genting RMTN Berhad and the MYR5bn via subsidiary Genting Vista Berhad. In both cases, filings mention that part of the objective is the intended acquisition of remaining Genting Malaysia shares.
Genting Bhd had made a takeover offer in a bid to delist Genting Malaysia. That closed on December 1 with the parent company having achieved a 73.13 per cent stake, below the 75 per cent threshold, but it has since resumed on-market purchases.
