S&P Global Ratings and Fitch Ratings have assigned ratings of BB+ and BBB-.
Malaysia.- Genting Malaysia has announced the issuance of US$525m in senior unsecured notes through its subsidiaries Genting New York (GENNY) and GENNY Capital. The notes carry an interest rate of 7.25 per cent and will mature in 2029.
The issuance has received approval in principle for listing on the Singapore Exchange Securities Trading Limited (SGX-ST). S&P has assigned a BB+ (stable) rating and Fitch BBB- (negative).
The offering is being undertaken to refinance existing debt. GENNY will enter into a new Senior Secured Credit Facility, which will include a US$775m delayed draw term loan facility and a US$150m revolving credit facility.
The issuers have the option to redeem up to 40 per cent of the total principal amount of notes, including any additional notes, at a redemption price of 107.250 per cent of the principal amount, plus any accrued and unpaid interest before October 1, 2026.
See also: Genting Malaysia revenue up 8%
S&P Global Ratings and Fitch Ratings have assigned ratings of BB+ and BBB-. Malaysia.- Genting Malaysia has announced the issuance of US$525m in senior unsecured notes through its subsidiaries Genting…
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