KUALA LUMPUR (April 20): Genting Bhd (KL:GENTING), via its unit GOHL Capital Limited, is offering to buy back up to US$1.5 billion (about RM5.93 billion) of its 4.25% notes due in 2027.

In a filing with Bursa Malaysia, Genting said the tender offer is part of a refinancing exercise to extend the group’s debt maturity profile.

The group said it is inviting noteholders to tender their notes for cash at a purchase price of US$1,000 per US$1,000 in principal amount, together with accrued interest.

The notes are listed on the Hong Kong Stock Exchange. Notes accepted for purchase will be cancelled.

According to Genting, the tender offer is open until 4pm London time on April 24, with results expected to be announced on or around April 30. Settlement is slated for on or about May 4.

“The tender offer is part of a refinancing exercise to extend the Genting group's debt maturity profile and is conditional upon the successful completion of such refinancing exercise. Accordingly, the tender offer will be up to a maximum purchase amount to be determined by GOHL Capital in its sole discretion,” the group added. 

Shares in Genting closed down one sen or 0.42% to RM2.37 on Monday, giving the group a market capitalisation of RM9.19 billion.