Shui On Land Ltd yesterday signed a HK$1 billion (US$129 million) three-year term syndicated loan agreement with a consortium of nine international banks and financial institutions, the first unsecured loan successfully arranged for any Chinese mainland-based Hong Kong property developer since the onset of the 2008 global financial crisis.

BNP Paribas is the sole bookrunner for this loan deal, and the nine companies include BNP Paribas Hong Kong Branch, Dah Sing Bank and the Industrial and Commercial Bank of China (Asia) Ltd.

Shui On Land gained robust sales in the first 10 months of this year as it tapped a significant rebound of property buying sentiment across the country.