SHAH ALAM, Malaysia--Malaysia's casino-to-plantations conglomerate, Genting Bhd. (3182.KU), said Wednesday that wholly owned unit GOHL Capital Ltd. is issuing $500 million of bonds.
Funds from the issuance will be used to refinance the company's existing debt and fund its capital requirements, it said.
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Genting, which is controlled by Lim Kok Thay, said the $500 million guaranteed notes, which came with a 4.25% annual coupon rate, will mature on Jan. 24, 2027, according to a stock-exchange filing.
The issuance follows GOHL's $1 billion bond issuance in January 2017.
Genting--which also controls the largest casino operator in Southeast Asia, Genting Singapore PLC (G13.SG)--said GOHL on Tuesday completed the bookbuilding for the $500 million in issuance.
Citigroup Global Markets Ltd. is the global coordinator for the bonds while J.P. Morgan Securities PLC and SMBC Nikko Capital Markets Ltd. are the joint bookrunners and joint lead managers for the offering, according to Genting.
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(END) Dow Jones Newswires
October 11, 2017 06:38 ET (10:38 GMT)