Mitsubishi Motors Corp (7211.T) said on Tuesday it would raise about 75 billion yen ($790 million) through syndicated loans from 29 banks arranged by affiliate Mitsubishi UFJ Financial Group (8306.T) for investments in vehicle launches.

The financing, for investment in vehicle launches, had been planned for the current financial year, which runs to March 2010, the Japanese automaker said in a statement, adding that the loans would be paid back by March 31, 2011. (Reporting by Chang-Ran Kim)