{"id":777018998,"date":"2024-09-12T09:47:17","date_gmt":"2024-09-12T12:47:17","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777018998"},"modified":"2026-04-22T06:12:58","modified_gmt":"2026-04-22T09:12:58","slug":"genting-malaysia-to-offer-us525m-in-notes-through-subsidiaries","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-malaysia-to-offer-us525m-in-notes-through-subsidiaries","title":{"rendered":"Genting Malaysia to offer US$525m in notes through subsidiaries"},"content":{"rendered":"\n

S&P Global Ratings and Fitch Ratings have assigned ratings of BB+ and BBB-.<\/p>\n\n\n\n\n\n\n\n

Malaysia.- Genting Malaysia has announced the issuance of US$525m in senior unsecured notes through its subsidiaries Genting New York (GENNY) <\/strong>and GENNY Capital<\/strong>. The notes carry an interest rate of 7.25 per cent and will mature in 2029.<\/p>\n\n\n\n

The issuance has received approval in principle for listing on the Singapore Exchange Securities Trading Limited (SGX-ST). S&P has assigned a BB+ (stable) rating and Fitch BBB- (negative). <\/p>\n\n\n\n

The offering is being undertaken to refinance existing debt. GENNY will enter into a new Senior Secured Credit Facility, which will include a US$775m delayed draw term loan facility and a US$150m revolving credit facility.<\/p>\n\n\n\n

The issuers have the option to redeem up to 40 per cent of the total principal amount of notes, including any additional notes, at a redemption price of 107.250 per cent of the principal amount, plus any accrued and unpaid interest before October 1, 2026.<\/p>\n\n\n\n

See also: <\/strong>Genting Malaysia revenue up 8%<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

S&P Global Ratings and Fitch Ratings have assigned ratings of BB+ and BBB-.<\/p>\n","protected":false},"author":176,"featured_media":18062,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Genting Malaysia, through its subsidiaries Genting New York and GENNY Capital, has issued US$525m in senior unsecured notes with a 7.25% interest rate, maturing in 2029, primarily for debt refinancing. The issuance received BB+ (stable) from S&P and BBB- (negative) from Fitch, and is approved for listing on the Singapore Exchange Securities Trading Limited (SGX-ST).","focusai_entities":"S&P Global Ratings, Fitch Ratings, Genting Malaysia, Genting New York (GENNY), GENNY Capital, Singapore Exchange Securities Trading Limited (SGX-ST)","focusai_location":"Malaysia, Singapore","focusai_target_profile":"ceo_executive (0.95), operator_casino (0.9), investor_analyst (1.0), journalist_researcher (0.85)","focusai_suggestions":[{"label":"Impact on Capital Structure","query":"How does this US$525m senior unsecured notes issuance, coupled with the new Senior Secured Credit Facility, alter Genting Malaysia's overall debt maturity profile and cost of capital?"},{"label":"Rating Agency Outlook","query":"Given S&P's BB+ (stable) and Fitch's BBB- (negative) ratings, what are the key factors driving the divergence in outlook, and what implications does this have for future credit assessments?"}],"footnotes":""},"categories":[163,16333],"tags":[19394],"class_list":["post-777018998","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-east-asia-news","tag-genting-malaysia"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777018998","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777018998"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777018998\/revisions"}],"predecessor-version":[{"id":777019006,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777018998\/revisions\/777019006"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18062"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777018998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777018998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777018998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}