ZUL RAFIQUE & partners  has advised Genting Malaysia Berhad on its establishment of a medium term note (MTN) programme of RM3 billion in nominal value through its wholly-owned subsidiary GENM Capital Bhd which is irrevocably and unconditionally guaranteed by Genting Malaysia Berhad. Net proceeds from the MTN Programme will be used for operating expenses, capital expenditure, investment, refinancing, working capital requirements and/or general funding requirements, including to finance the group’s development and/or re-development of the properties and/or resorts.

“The MTN programme is expected to provide the group with the flexibility to time its fund-raising exercises with varying nominal value and tenures in accordance with its funding requirements. The group will also be able to have access to a diversified pool of investors in the local capital markets” Genting Malaysia Berhad.

CIMB and Maybank Investment Bank Bhd acted as the Joint Principal Advisers and Joint Lead Arrangers for the MTN programme.

The transaction was led by Loh Mei Mei, partner in the Debt Capital Markets practice.