Genting Malaysia seeks funds for property, gaming projects

Malaysia-listed casino operator Genting Malaysia Bhd has issued MYR2.6 billion ($644.28 million) in debt notes as the company seeks more funds for its property and gaming resorts projects.

In a regulatory filing, Genting announced on Wednesday that it issued medium term notes through its unit Genting Malaysia Capital Bhd. The notes were issued inthree tranches, according to the casino operator.

Tranche one, which has a five-year tenor and 4.98 percent coupon, is worth MYR1.4 billion ($346.92 million) while the second tranche, which has a 10-year tenor and 5.30 percent coupon, is valued at MYR$750 million ($185.85 million).

The last tranche is estimated to be around MYR450 million ($111.51 million) and has a 15-year tenor and 5.58 percent coupon.Genting has tapped Maybank Investment Bank Bhd as the joint lead arranger for the debt note issuance.