KUALA LUMPUR (Dec 30): Genting Bhd (KL:GENTING) has issued its maiden series of medium-term notes under its new RM5 billion unrated MTN programme, lodged with the regulator earlier this month.
The Series 1 issuance by wholly owned unit Genting Vista Bhd comprised RM3 billion in nominal value, with a one-to-five-year tenure, and carries an annual interest rate of three-month Klibor plus 1.8%, according to the group’s bourse filing on Tuesday.
Proceeds will be used to redeem the debt notes previously issued by its unit, Genting RMTN Bhd, to part-finance the takeover offer for Genting Malaysia Bhd (KL:GENM).
“... Genting RMTN has today fully redeemed the aggregate RM3 billion nominal value of MTN issued on Nov 10, 20, 27 and Dec 5, 2025 under the MTN programme,” it noted.
The now-redeemed RM3 billion notes under Genting RMTN's MTN programme of up to RM10 billion were issued at par with a one-year tenure and carry an interest rate of one-month Klibor + 1.8%.
Genting’s RM2.35 per share privatisation offer for Genting Malaysia closed on Dec 1 with the group securing 73.133% of Genting Malaysia shares, coupled with another 0.202% of acceptances pending validation at that time.
The closing figure was short of the 75% requisite threshold to withdraw the company’s listing status. Thus, Genting Malaysia remains listed on Bursa Malaysia.
Affin Hwang Investment Bank Bhd and AmInvestment Bank Bhd are the lead managers for Genting Vista’s Series 1 MTN issuance.
Shares in Genting ended two sen or 0.67% lower at RM2.98, valuing the group at RM11.55 billion.
Genting Malaysia shares closed one sen or 0.49% lower at RM2.05, valuing the company at RM12.17 billion.