KUALA LUMPUR (April 3): Genting Bhd said today its indirect wholly-owned subsidiaries Resorts World Las Vegas LLC and RWLV Capital Inc had on Tuesday (April 2) priced their US$1 billion (about RM4.0815 billion) 4.625% senior notes to finance the construction of the Resorts World Las Vegas casino and integrated resort.

Genting Bhd told Bursa Malaysia today the 10-year notes due in 2029 are expected to be listed on the Official List of the Singapore Exchange Securities Trading Ltd.

"The net proceeds from the issue of the notes will be used to fund remaining costs associated with the design, development, construction, equipping, financing and opening of the Resorts World Las Vegas casino and integrated resort, including all furniture, fixtures and equipment therein or attached thereto, and related amenities, all to be located in Clark County, Nevada, pay transaction fees and expenses associated with the offering and the senior secured credit facilities, and for working capital and other general corporate purposes.

"The notes will have the benefit of various funding agreements to be provided by Genting Overseas Holdings Ltd, a direct wholly-owned subsidiary of GENT (Genting Bhd). The notes will also have the benefit of a keepwell deed to be provided by GENT. 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) to the notes," Genting Bhd said.

Citigroup Global Markets Inc, Barclays Bank PLC and J.P. Morgan Securities LLC are the joint global coordinators for the bond offering, according to Genting Bhd.

Citigroup, Barclays and J.P. Morgan together with BNP Paribas Securities Corp, DBS Bank Ltd, SMBC Nikko Securities America Inc, Fifth Third Securities Inc and KeyBanc Capital Markets Inc are the joint bookrunners for the corporate exercise, Genting Bhd said.

Malayan Banking Bhd and Oversea-Chinese Banking Corp Ltd are the joint lead managers for the offering, according to Genting Bhd.

At Bursa Malaysia today, Genting Bhd shares settled up 17 sen or 2.54% at 12:30pm at RM6.87 with 1.29 million shares traded. Genting Bhd was among Bursa Malaysia's top gainers.