Casino operator Genting Singapore PLC has issued Samurai bonds as it prepares for the looming casino license showdown in Japan.

Reuters reported that Genting Singapore will issue yen-denominated bonds in three tranches. The company set the pricing of the bonds on a three-year fixed tranche at yen offer-side swaps plus 45bp-55bp; five-year at plus 55bp-65bp; plus 75bp-85bp on the seventh year.

International ratings agencies Moody’s Investors Service and Fitch Ratings gave Genting Singapore A3/A- ratings while the Samurai bonds are expected to reap an A from Rating and Investment.

The company tapped SMBC Niko as the sole bookrunner and it plans to put the pricing out as early as October 18.