Battery maker inks loan

BATTERY maker Gold Peak Industries (Holding) has signed a US$42 million four-year loan, and HSBC Capital has confirmed a $23 million capital raising for circuit-board maker Kalex Circuit Board.

Gold Peak, which also makes and markets audio equipment and electronics components, raised the money through a two-tranche structure arranged by Commerz East Asia, and co-arrangers DBS Bank Hong Kong and Standard Chartered Markets.

Bankers said tranche A was a revolving credit, allowing Gold Peak to repay part of the loan and then immediately re-borrow from the facility.

Tranche B was a loan with transferable loan certificates, they said.

HSBC said it arranged a $23 million loan for Kalex to finance two new factories.