In a regulatory filing, Genting announced that it issued medium term notes through its unit Genting Malaysia Capital Bhd. The notes were issued in three tranches, according to the casino operator.
Tranche one, which has a five-year tenor and 4.98% coupon, is worth US$346.92 million, while the second tranche, which has a 10-year tenor and 5.30% coupon, is valued at US185.85 million. The last tranche is estimated to be around US$ 111.51 million and has a 15-year tenor and 5.58% coupon.
According to the Malaysian casino operator, the proceeds from the medium term notes will be used for operating expenses, capital expenditure, investment, refinancing, working capital requirements and/or general funding requirements.
In May, Genting reported that its net profit rose to US$86 million compared to US$81.4 million in the prior-year period, with its flagship integrated resort Genting Malaysia leading the revenue rally.
Moving forward, Genting BHD expressed confidence in its future growth and the potential of its leisure and hospitality business as the global economy picks up. In Malaysia, Genting said that it remained focused on the on-going development of the GITP.
Genting BHD has been preparing to roll out the new Skytropolis indoor theme park and the highly anticipated Twentieth Century Fox World Theme Park. It also has plans to beef up its database marketing efforts to optimize yield management and improve operational efficiencies and service delivery at the resort.
Source: GMB / Calvin Ayre
