Genting Malaysia issues US$1.0bn in notes to refinance borrowings

Genting Malaysia has issued unsecured notes to refinance existing borrowings and raise cash for capital needs.

Malaysia.- Genting Malaysia Bhd has announced it has issued 3.882 per cent senior unsecured notes priced at US$1.0bn through Genting Malaysia Capital Labuan Ltd.

According to the filing, the notes are due in 2031 and will be guaranteed by Genting Malaysia itself while the company aims to refinance existing borrowings and raise cash for capital needs.

The Central Bank of Malaysia has already approved the offering.

Analysts have predicted Genting Malaysia is likely to recover from the Covid-19 pandemic “in one or two years” thanks to maintaining financial discipline and operating flexibility.