Genting Malaysia Units Price $525 Million Debt Offering

Genting Malaysia (KLSE:GENM) said units Genting New York and GENNY Capital priced their offering of $525 million in aggregate principal amount of 7.250% senior unsecured bonds due 2029.

The resort operator said it also secured approval in principle for listing the bonds on the Singapore Exchange Securities Trading.

Net proceeds from the offering will be used to refinance debt.

S&P Global Ratings and Fitch Ratings have assigned ratings of BB+ (stable) and BBB- to the bonds, respectively.

Shares gained marginally recently.

Price (MYR): $2.43, Change: $+0.020, Percent Change: +0.83%