Stock News: GP Batteries to raise about 131 mln sgd from loan syndication

GP Batteries International Ltd said it will raise about 131 mln sgd from a loan syndication, partly to finance existing debts. It said it has signed a three-year syndicated term loan facility agreement with international banks to raise 60 mln sgd and 45 mln usd. The amounts are higher that the original planned sizes of 55 mln sgd and 30 mln usd, respectively, due to oversubscription. BNP Paribas and DBS Bank Ltd were mandated as the lead arrangers for the borrowings. It said that nine other international banks participated in the syndication.