HONG KONG -(Dow Jones)- Hong Kong-listed China Resources Land Ltd. (1109.HK) said Wednesday it has entered into an agreement for a HK$1 billion three-year term loan facility with a number of banks.

The mainland Chinese property developer said in a statement that under the agreement, China Resources Holdings Co., its parent company, is required to continue to be its single largest shareholder, or hold more than 35% of its issued share capital. China Resources Holdings currently owns 65.36% of the developer's shares.

China Resources Land didn't disclose further details or provide a reason for the loan.