Genting Malaysia plans RM3b bond sale

PETALING JAYA: Genting Malaysia Bhd is undertaking a RM3 billion medium-term note (MTN) programme to fund the development and redevelopment of its properties and resorts.
Genting Malaysia told Bursa Malaysia that its wholly owned subsidiary GENM Capital had made a lodgement with the Securities Commission Malaysia for the establishment of the fund raising programme.
It will have a tenure of 20 years from the date of first issuance.
Genting Malaysia said the MTN programme is expected to provide the group with the flexibility to time its fund-raising exercises with varying nominal value and tenures in accordance with its funding requirements.
"The group will also be able to have access to a diversified pool of investors in the local capital markets."
The counter gained 10 sen or 2% to close at RM5.03 on some 1.52 million shares done.