Fortune Real Estate Investment Trust (FRT) signed a HK$1.4 billion, three-year loan after attracting nine banks in syndication, according to a person familiar with the matter.

Australia and New Zealand Banking Group Ltd., DBS Bank Ltd. and Standard Chartered Plc were hired to arrange the loan and lent HK$170 million each, the person said, asking not to be identified as details are private. National Australia Bank Ltd., Bank of East Asia Ltd. and United Overseas Bank Ltd. also joined as mandated lead arrangers committing HK$145 million, HK$135 million and HK$130 million respectively, the person said.

Lead arrangers were Scotiabank (Hong Kong) Ltd., which pledged HK$105 million, China Construction Bank Corp. and Mega International Commercial Bank Co., which both lent HK$85 million, and Public Bank (Hong Kong) Ltd., which lent HK$75 million.

Chang Hwa Commercial Bank joined as an arranger with a commitment of HK$65 million while Hua Nan Commercial Bank Ltd. also pledged HK$65 million, the person said.

The loan comprises a a HK$1.1 billion term facility and a HK$300 million revolving credit portion and pays a margin of 200 basis points over the Hong Kong interbank offered rate, according to a Feb. 14 company regulatory filing.

Fortune REIT, a Singapore-based real estate investment trust that manages a portfolio of shopping malls in Hong Kong, said in yesterday’s filing that the HK$1.1 billion term loan will be drawn on or about Feb. 17 and proceeds will be used to help finance two retail properties in Hong Kong, Belvedere Garden Property and Provident Centre Property.