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Genting New York/Genny Capital to sell $400 million notes due 2026
By Lisa Mayntz and Cristal Cody
Chicago, Jan. 27 – Genting New York LLC, a fully owned subsidiary of Genting Malaysia Bhd., and co-issuer Genny Capital Inc. plan to sell $400 million of senior notes due Feb. 15, 2026 (BBB-/BBB-), according to a market source.
The notes are expected to price during the Wednesday session and are being talked in the 325 basis points over Treasuries area.
The Rule 144A and Regulation S notes are being managed by BofA Securities Inc., BNP Paribas Securities Corp., DNB and Wells Fargo Securities LLC.
Proceeds, according to Fitch Ratings, are expected to be used to refinance debt.
Genting is a New York-based casino operator.
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