{"id":777019167,"date":"2024-09-19T09:55:15","date_gmt":"2024-09-19T12:55:15","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777019167"},"modified":"2026-04-22T05:58:23","modified_gmt":"2026-04-22T08:58:23","slug":"genting-malaysia-to-offer-additional-us100m-in-notes-through-subsidiaries","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-malaysia-to-offer-additional-us100m-in-notes-through-subsidiaries","title":{"rendered":"Genting Malaysia to offer additional US$100m in notes through subsidiaries"},"content":{"rendered":"\n

The notes carry an interest rate of 7.25 per cent and will mature in 2029.<\/p>\n\n\n\n\n\n\n\n

Malaysia.- Genting Malaysia has announced that its subsidiaries\u00a0Genting New York (GENNY)\u00a0<\/strong>and\u00a0GENNY Capital <\/strong>have priced an additional offer of senior unsecured notes due in 2029 at 7.25 per cent totalling US$100m. It said net proceeds will be used to repay existing debts. <\/p>\n\n\n\n

The notes are part of the same series as the initial US$525m notes<\/a> priced on September 10 and will carry the same terms. Genting Malaysia said 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

See also: <\/strong>Genting Malaysia revenue up 8%<\/a><\/p>\n\n\n\n

PAS makes manifesto pledge to close Malaysia’s only casino<\/h2>\n\n\n\n

The future of Genting Malaysia’ Resorts World Genting<\/strong>, the only casino licensed to operate in Malaysia, could be at risk should Parti Islam SeMalaysia (PAS) come to power in the state of Pahang in the upcoming national elections.<\/p>\n\n\n\n

According to Bloomberg, Andansura Rabu, <\/strong>PAS\u2019s deputy commissioner for Pahang stated that if voters in the state wish to put an end to gambling, they should elect the Islamic party. PAS is the largest party in the federal Parliament and holds four of Malaysia\u2019s 13 states. It aims to win Pahang in the next national election, which must be held by February 17, 2028. <\/p>\n\n\n\n

However, Rabu has acknowledged that shutting the casino in Genting Highlands might not be within the party\u2019s power even if it wins because it\u2019s the federal government that\u2019s responsible for issuing casino and gaming permits.<\/p>\n","protected":false},"excerpt":{"rendered":"

The notes carry an interest rate of 7.25 per cent and will mature in 2029.<\/p>\n","protected":false},"author":176,"featured_media":32939,"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's subsidiaries, Genting New York and GENNY Capital, have priced an additional US$100m in senior unsecured notes due 2029, bringing the total issuance to US$625m, with proceeds earmarked for debt repayment. Concurrently, the operational future of Resorts World Genting, Malaysia's sole licensed casino, faces potential regulatory risk from Parti Islam SeMalaysia (PAS) should they gain power in Pahang, despite federal control over gaming permits.","focusai_entities":"Genting Malaysia, Genting New York, GENNY Capital, S&P, Fitch, Parti Islam SeMalaysia (PAS), Andansura Rabu, Bloomberg, Singapore Exchange Securities Trading Limited (SGX-ST)","focusai_location":"Malaysia, New York, Singapore, Pahang, Genting Highlands","focusai_target_profile":"ceo_executive (0.95), regulator (0.9), compliance_legal (0.85), operator_casino (0.95), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"PAS impact on CAPEX?","query":"What is the projected impact of PAS's potential electoral success on Genting Malaysia's long-term capital expenditure and market positioning within the Malaysian gaming vertical?"},{"label":"Federal licensing evolution?","query":"How might the federal government's stance on gaming permits evolve if PAS gains significant regional influence, and what are the implications for existing B2C licensing frameworks?"}],"footnotes":""},"categories":[163,16333],"tags":[19394],"class_list":["post-777019167","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\/777019167","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=777019167"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777019167\/revisions"}],"predecessor-version":[{"id":777019191,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777019167\/revisions\/777019191"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/32939"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777019167"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777019167"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777019167"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}