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Genting Berhad to issue an extra US$500 million notes to fund Resorts World Las Vegas

Thursday, 12 October 2017 05:41
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Malaysian gaming giant Genting Berhad has announced that its wholly-owned subsidiary, GOHL Capital Limited, has completed the book-building process and priced an offering of US$500 million 4.25% guaranteed notes due 2027.

The proceeds are expected to be used to help finance completion of the company’s ambitious US$4 billion Resorts World Las Vegas project, due for completion in 2020.

In an announcement, Genting said that the notes were in addition to a previous US$1 billion principal amount of notes that were issued by GOHL Capital in January.

The further notes have been offered entirely offshore and outside the United States of America under the United States Securities Act of 1933 and will be fully and unconditionally guaranteed by Genting Overseas Holdings Limited.

Genting said in January that proceeds from its original US$1 billion issuance would be used “for the general corporate purposes of the Genting Group” including investments in the development of Resorts World Las Vegas.

The Chinese-themed property will boast 3,200 hotel rooms across two towers and a 100,000 square-foot casino floor.

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