KUALA LUMPUR: Genting Bhd's subsidiaries Resorts World Las Vegas LLC and RWLV Capital Inc. have issued US$400 million of 8.450 per cent senior notes due 2030.
In Bursa Malaysia filing, the notes were offered and sold only in the United States to qualified institutional buyers and will be listed on the Singapore Exchange Securities Trading Limited.
The net proceeds from the issuance of the notes alongside with cash on hand will be utilised to repay the entire outstanding borrowings under the subordinated intercompany note of US$300 million with accrued interest.
This was fully drawn by RWLV on June 28, 2023 and the proceeds were applied to prepay some of the existing senior secured credit facilities relating to the closing of the extension and amendment to its new US$800 million senior secured credit families.
While the remainder will be used to repay all or some of the outstanding borrowings under the senior secured credit facilities to pay transaction fees and expenses associated with the offering.