Genting Malaysia Raises Funds for Resort Development

The only casino in the nation, Genting Malaysia, has raised RM400 million ($84.7 million) from the issuance of medium-term notes (MTNs).

The company will use this cash infusion to pay for a range of expenses, such as debt refinancing, operational costs, and potential investments in new projects.

Significantly, a substantial sum will be utilized for the construction or renovation of Genting Malaysia’s resorts, which include Resorts World Genting (formerly known as Genting Highlands Resort), the resort’s crown jewel.

The issuance makes use of two active MTN initiatives. The first tranche, worth RM300 million ($63.5 million), is payable semi-annually and has a five-year duration. It also offers an appealing coupon rate of 4.92% annually.

The second tranche, which is similarly paid semi-annually, gives RM100 million ($21.2 million) spread over 14 years at a somewhat higher coupon rate of 5.28%.

Genting Malaysia’s commitment to maintaining market leadership and possibly enhancing resort experiences is seen in this financial plan.

With more funding in place, the business is getting ready for an exciting future that may include expanded or renovated offerings at its esteemed locations.

Original Story by: Asian Gaming Brief