Loh Mei Mei and Renee Fong Siew Ern of ZUL RAFIQUE & partners’ Banking & Finance team acted as solicitors of Genting RMTN Berhad as the issuer (“Issuer”) in the establishment and issuance of medium term notes (“MTN”) pursuant to a medium term notes programme of MYR10 billion in nominal value which is irrevocably and unconditionally guaranteed by Genting Berhad (“Guarantor”) (“MTN Programme”), whereby CIMB Investment Bank Berhad (“CIMB”) and Maybank Investment Bank Berhad (“Maybank IB”) have acted as the joint principal advisers and joint lead arrangers for the MTN Programme. The joint lead managers in respect of the first issuance of the MTN were CIMB, Maybank IB, OCBC Bank (Malaysia) Berhad and RHB Investment Bank Berhad.

The net proceeds of the MTN Programme were utilised by the Issuer for the Guarantor and its subsidiaries’ operating expenses, capital expenditure, investment, refinancing, working capital requirements, general funding requirements and/or other general corporate purposes of the Guarantor and its subsidiaries.

The tenure of the MTN Programme is perpetual. The MTN Programme, which has been assigned an initial long-term rating of AAA(s) by RAM Rating Services Berhad, falls under Schedule 8 of the Capital Markets and Services Act, 2007 and therefore the Issuer is exempted from complying with the Securities Commision Malaysia’s Trust Deeds Guidelines issued by the Securities Commision Malaysia (revised on 12 July 2011 and effective on 12 August 2011) as amended from time to time.

For more insights into this area of law, please contact our Partners in Banking & Finance Practice Group: 
Loh Mei Mei
Kung Suan Im
Ashela Ramaya
Chan Kwan Hoe 
Celine Rangithan