KUALA LUMPUR, March 31 — Genting Bhd’s indirect wholly-owned subsidiaries, Resorts World Las Vegas LLC and RWLV Capital Inc (RWLV) have priced their offering of US$350 million (RM1.4 billion) aggregate principal amount of 4.625 per cent senior notes due in 2031.
In a filing with Bursa Malaysia today, Genting said the offering is primarily to repay borrowings under its US$1.6 billion senior secured credit facilities maturing in 2024.
The notes will have the benefit of various funding support agreements to be provided by Genting Overseas Holdings Ltd, Genting’s wholly-owned subsidiary.
In addition, Genting said the notes are expected to be listed on the Official List of the Singapore Exchange Securities Trading Ltd.
The notes have been offered and sold in the United States only to qualified institutional buyers in reliance on the exemption from the registration requirements of the US Securities Act of 1933, as amended (Securities Act), provided by Rule 144A under the Securities Act.
They have also been offered and sold to certain non-US persons in offshore transactions outside the US in reliance on Regulation S under the Securities Act.
Genting said the notes have not been registered under the Securities Act or any state or other securities law jurisdictions.
Accordingly, the notes may not be offered or sold in the US absent registration or an applicable exemption from registration requirements under the Securities Act and any applicable state or other securities law jurisdictions. — Bernama