Malaysia's Genting Capital gets approval for RM 2 billion MTN program

By Marisa Wong

Madison, Wis., May 24 - Genting Bhd.'s wholly owned subsidiary, Genting Capital Bhd., plans to establish a RM 2 billion medium-term note program.

The Securities Commission Malaysia approved the proposed program on Thursday, according to an announcement by CIMB Investment Bank Bhd.

Notes issued under the program will be guaranteed by the parent company.

Genting Capital has appointed CIMB, HSBC Bank Malaysia Bhd. and Maybank Investment Bank Bhd. as joint principal advisers for the program.

The MTN program will have a tenor of 20 years.

Proceeds from any offering of notes will be used for operating expenses, capital expenditure, investment, refinancing, working capital requirements, general funding requirements and/or other general corporate purposes.

Genting is a Kuala Lumpur-based investment holding and management company.

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