KUALA LUMPUR, April 27 — Genting Malaysia Bhd, through its unit, GENM Capital Bhd, is launching RM3 billion medium-term note (MTN) programme that will partly be used to finance the development or re-development of the group’s properties and/or resorts.

It said the net proceeds from the MTN programme, which would have a tenure of 20 years from the date of the first issuance of notes, would be used for operating expenses, capital expenditure, investment, refinancing, working capital requirements and/or general funding requirements of Genting Malaysia and its subsidiaries.

"The MTN programme is expected to provide the group with the flexibility to time its fund-raising exercises with varying nominal value and tenures in accordance with its funding requirements.

"The group will also be able to have access to a diversified pool of investors in the local capital market,” it told Bursa Malaysia today. — Bernama