KUALA LUMPUR (May 31): Genting Malaysia Bhd (KL:GENM), which operates the Genting Highlands resorts, said on Friday it has issued debt papers totalling RM1.3 billion under two programmes.

The company raised RM1.05 billion from three tranches of medium-term notes that pay annual coupons of 4.92%-5.15% and mature between five and 10 years, Genting Malaysia said in an exchange filing. The issuances are the fourth under a RM5 billion programme.

Genting Malaysia also raised RM250 million from the first tranche of second issuance under a RM3.00 billion medium-term notes programme. The issue matures in 14 years and carries an annual coupon of 5.28%.

Proceeds from the issuance of the notes have been earmarked for operating expenses, capital expenditure, investment, refinancing, working capital requirements, as well as general funding requirements, Genting Malaysia said.

That includes financing the development or redevelopment of the properties, resorts of Genting Malaysia and its subsidiaries including those located in Genting Highlands, Pahang, the company added.

The RM5 billion programme was established by its unit Genting Malaysia Capital Bhd in 2014 while the RM3 billion programme was set up in 2018. Both programmes, with a tenure of 20 years, come with an irrevocable and unconditional guarantee by Genting Malaysia.

AmInvestment Bank and Hong Leong Investment Bank are joint lead managers for the latest issuance.