Thursday, May 30, 2024 - Login

Genting prices notes to finance Resorts World Las Vegas

Genting Bhd said its wholly owned Resorts World Las Vegas unit had priced an offering of $1 billion senior notes, which will be used to finance the remaining costs related to the construction of the resort.

The ten-year notes have a coupon of 4.625 percent, payable on a semi-annual basis.

S&P Global Ratings has assigned a preliminary issue rating of BBB+ to the Notes, whilst Fitch Ratings, Ltd has assigned an expected rating of A-(EXP).

Concurrently with the notes issue, Resorts World Las Vegas will enter into $1.6 billion in senior secured credit facilities, including a $400 million term loan and a $1.2 billion revolving credit facility.

The notes were only offered and sold in the U.S. to qualified institutional buyers, the company said in a statement to Bursa Malaysia.

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

Contact us

PO Box 1139, Macau SAR
Tel: +853 2871 7267
Fax: +853 2871 7264

Asia Gaming Brief