GENNY and GENNY Capital Initiate Cash Tender Offer for Notes

GENNY and GENNY Capital Announce Tender Offer for Senior Notes

Genting New York LLC (GENNY) and GENNY Capital Inc. are excited to share their ongoing efforts to enhance their financial standing through a new cash tender offer for their outstanding Senior Notes, set to gain momentum in the coming weeks. This strategic move focuses on their 3.300% Senior Notes due in 2026.

Details of the Cash Tender Offer

The tender offer seeks to purchase any and all of their Senior Notes, which are identified by CUSIP Nos. 37255J AA0 and U2732P AA0. This initiative signifies the Issuers' proactive approach, intending to optimize their debt profile amid favorable market conditions.

Understanding the Terms of the Offer

The Offer is grounded in the specific terms outlined in the Offer to Purchase. Detailed pricing structures for the Senior Notes will inform holders as they evaluate their position. This tender offer aims to encourage participation from creditors, ensuring a comprehensive understanding of the potential benefits involved.

Considerations and Benefits for Note Holders

As the Offer rolls out, it is essential for Note holders to be aware of the implications and timelines associated with tendering their notes. The early tender payment will be a significant incentive, offering $50.00 for each $1,000 principal of notes validly tendered and accepted. This detail is fundamental for holders looking to maximize their returns.

Important Deadlines to Note

Holders should keep in mind the key dates: the Early Tender Deadline, which falls in late September, is a critical period for those wishing to secure the early tender payment. The final expiration of the Offer is set for October, meaning a decision must be made soon.

The Purpose Behind the Offer

This cash tender offer is strategically planned as part of GENNY's broader financial strategy. The Issuers anticipate that funds from a related New Notes Offering will support the repurchase of Notes and the satisfaction of any remaining obligations, thus enhancing their overall credit profile.

Benefits of Participation

Participating in this tender offer not only allows holders to liquidate their investment but also helps in potentially improving the company’s financial outlook. By simplifying their debt structure, GENNY and GENNY Capital aim to focus on long-term objectives while fostering sustainable growth.

About GENNY and GENNY Capital

GENNY operates the renowned Resorts World Casino, a hallmark of entertainment and gambling in the region. Their successful ventures underscore their commitment to excellence in the gaming industry as they navigate market trends. Meanwhile, GENNY Capital serves as a dedicated entity for managing debt securities to stabilize and grow the company.

Frequently Asked Questions

What is the primary goal of the tender offer?

The tender offer aims to optimize GENNY's and GENNY Capital's debt structure by repurchasing outstanding senior notes.

What is the incentive for early tendering?

Investors who tender early will receive an additional payment of $50 for each $1,000 of notes tendered.

How will the company utilize the funds from the tender offer?

The proceeds will be directed towards enhancing their financial position and managing existing debt efficiently.

When is the expiration date of the offer?

The tender offer is set to expire in early October, after which no further offers to tender will be accepted.

Who can holders contact for more information?

Holders seeking more information are encouraged to reach out directly to GBS as the designated information agent for further assistance.

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