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BackJul 08, 2011

SINGAPORE Press Holdings (SPH) has announced that its subsidiary Orchard290 has secured a $300 million transferable five-year loan facility from DBS Bank.

The funds will be used to partially repay the unit's existing loan facility with a syndicate of banks and financial institutions, including DBS.

SPH said yesterday this will have no material impact on its earnings per share or the net tangible assets for the financial year ending Aug 31 this year.