By Marisa Wong
Morgantown, W.Va., Jan. 25 – Genting Bhd.’s wholly owned subsidiary, GOHL Capital Ltd., issued $1 billion of 10-year notes guaranteed by another wholly owned subsidiary, Genting Overseas Holdings Ltd., according to a Bursa Malaysia announcement.
The 4¼% notes (Baa1//A-) were priced at 99.597 to yield 4.3%, or 198 basis points over U.S. Treasuries.
Citigroup Global Markets Ltd. and J.P. Morgan Securities plc are joint bookrunners and, along with DBS Bank Ltd. and SMBC Nikko Capital Markets Ltd., joint lead managers for the Regulation S offering.
The order book totaled more than $2.8 billion, according to a company press release.
Proceeds will be used for general corporate purposes.
Genting is a Kuala Lumpur-based investment holding and management company.
| Issuer: | GOHL Capital Ltd.
|
| Guarantor: | Genting Overseas Holdings Ltd.
|
| Issue: | Notes
|
| Amount: | $1 billion
|
| Maturity: | 10 years
|
| Bookrunners: | Citigroup Global Markets Ltd., J.P. Morgan Securities plc
|
| Lead managers: | DBS Bank Ltd., SMBC Nikko Capital Markets Ltd.
|
| Coupon: | 4¼%
|
| Price: | 99.597
|
| Yield: | 4.3%
|
| Spread: | 198 bps over 10-year U.S. Treasury
|
| Pricing date: | Jan. 17
|
| Settlement date: | Jan. 24
|
| Ratings: | Moody’s: Baa1
|
| Fitch: A-
|
| Distribution: | Regulation S
|
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