Genting Bhd, through its wholly owned unit GOHL Capital Limited, has launched a tender offer to buy back up to US$1.5 billion (about RM5.93 billion) of its outstanding 4.25% notes due in 2027.
In a filing with Bursa Malaysia, Genting said the exercise forms part of its broader refinancing plan aimed at extending the group’s debt maturity profile and strengthening its long-term financial position.
Under the offer, noteholders are invited to tender their notes for cash at a purchase price of US$1,000 for every US$1,000 in principal amount, together with any accrued and unpaid interest. Notes accepted under the offer will be cancelled.
The 2027 notes are listed on the Hong Kong Stock Exchange. Genting said the tender offer will remain open until 4pm London time on April 24, while the results are expected to be announced on or around April 30. Settlement is scheduled for on or about May 4.
The company noted that the tender offer is subject to the successful completion of its refinancing exercise. The final amount of notes purchased, up to the US$1.5 billion cap, will be determined by GOHL Capital at its sole discretion.
The move is seen as part of Genting’s proactive capital management strategy as the group seeks to optimise its debt structure and maintain financial flexibility.
Shares of Genting closed one sen lower, or 0.42%, at RM2.37 on Monday, giving the company a market capitalisation of RM9.19 billion.
