Genting Berhad has established a new MYR5 billion ($1.22 billion) medium-term notes program and issued another MYR1.35 billion ($328 million) in notes as it continues to pursue full control of subsidiary Genting Malaysia Berhad, according to filings made on December 5th, 2025.
The Malaysian gaming and hospitality conglomerate made a lodgement with the Securities Commission Malaysia for an unrated Medium Term Notes Program through wholly-owned subsidiary Genting Vista Berhad. The perpetual program allows for the issuance of notes with tenures of at least one year, at fixed or floating coupon rates, and will be guaranteed by Genting Bhd.
Simultaneously, Genting Bhd issued MYR1.35 billion in notes through another subsidiary, Genting RMTN Berhad, under its existing MYR10 billion ($2.40 billion) medium term notes programme. The one-year notes carry an interest rate of 1-month KLIBOR plus 1.8 percent and were issued at par.
Both filings explicitly stated the proceeds would be used to part-finance the acquisition of remaining ordinary shares in Genting Malaysia pursuant to Genting Bhd’s takeover offer, which closed on December 1st at 73.13 percent shareholding—just below the 75 percent threshold required for privatization.
The new MYR5 billion program’s proceeds will be allocated toward operating expenses, refinancing borrowings, including buy-back or early redemption of debt securities, investment and capital expenditure, working capital requirements, and general corporate purposes. The first series of notes under this program is expected to refinance medium-term notes previously issued by Genting RMTN to part-finance the Genting Malaysia share acquisition.
This marks the fourth note issuance by Genting Bhd in the past month, bringing its total recent fundraising to MYR3 billion ($729 million) as it pursues the privatization of Genting Malaysia. The parent company has resumed on-market purchases of Genting Malaysia shares following the close of its mandatory takeover offer.
Genting Malaysia has recently attracted heightened investor attention after being recommended by New York’s Gaming Facility Location Board as one of three operators shortlisted for a full commercial casino license in downstate New York. Such approval would allow the expansion of its Resorts World New York City property, positioning the company for significant growth as Genting Berhad advances its consolidation strategy.
