By Cristal Cody
Chicago, March 31 – Resorts World Las Vegas LLC sold $350 million of 4.625% notes due April 6, 2031 (BBB-/BBB) at a Treasuries plus 320 basis points spread on Tuesday, according to a market source.
The notes are also being issued by RWLV Capital Inc. and the parent company is Genting Bhd.
The notes were talked in the Treasuries plus 360 bps area.
Bookrunners for the notes are BNP, Citigroup, DBS, JPMorgan and SMBC.
Proceeds, according to S&P Global Ratings, will be used to repay outstanding borrowings.
Genting is based in Malaysia and is a developer and operator of destination resorts.
| Issuers: | Resorts World Las Vegas LLC and RWLV Capital Inc.
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| Issue: | Senior notes
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| Amount: | $350 million
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| Maturity: | April 6, 2031
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| Bookrunners: | BNP, Citigroup, DBS, JPMorgan and SMBC
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| Coupon: | 4.625%
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| Spread: | Treasuries plus 320 bps
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| Trade date: | March 30
|
| Ratings: | S&P: BBB-
|
| Fitch: BBB
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| Price talk: | Treasuries plus 360 bps area
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