Malaysia’s Genting sets up RM 5 billion medium-term note program

By Marisa Wong

Madison, Wis., Sept. 8 – Genting Malaysia Bhd.’s wholly owned subsidiary, GENM Capital Bhd., received approval from the Securities Commission Malaysia to establish a RM 5 billion medium-term note program, according to a Bursa Malaysia announcement.

CIMB and Maybank Investment Bank Bhd. are the joint lead arrangers for the 20-year program.

Proceeds will be used for operating expenses, capital expenditure, investment, refinancing, working capital requirements or general funding requirements.

RAM Rating Services Bhd. has assigned an initial long-term rating of AAA(s) to the program.

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

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