Funds earmarked for financing new projects

Quabit places a 4-year bond in the sum of 20 million euros

This successful placement is a sound endorsement of the company’s strategy and confirms the investor interest and market trust in Quabit and its management capabilities.

This issuance, with a 4-year maturity, bears an 8.25% coupon payable annually. This has enabled the property group to significantly enhance the financial conditions and cost of its debt, which will in turn translate into increased company profits and value generation for its shareholders.

Madrid, 29 March 2019.- Quabit Inmobiliaria, via its wholly-owned subsidiary Quabit Finance, has placed a bond issue in the sum of 20 million euros.
 
This successful placement is a sound endorsement of the company’s strategy and confirms the investor interest and market trust in Quabit and its management capabilities.
 
This issuance, with a 4-year maturity, bears an 8.25% coupon payable annually. This has enabled the property group to significantly enhance the financial conditions and cost of its debt, which will in turn translate into increased company profits and value generation for its shareholders.
 
The bonds are expected to list on the non-regulated Open Market (Freiverkehr) of the Frankfurt Stock Exchange, on the Quotation Board.
 
This operation forms part of Quabit’s strategy to lend the company greater financial flexibility while at the same time advancing in its strategy of diversifying funding sources.
 
These will be the funds used for new investments, the financing of new projects and moving forward with the company’s growth and expansion plan which it is currently pursuing.
 
Since the launch of this growth plan in 2017, the company chaired by Félix Abánades has invested, in the aggregate, 186 million euros in residential land for the construction of almost 4,800 residential units which together with land in portfolio as included in the Business Plan signifies 95% of housing deliveries until 2021 are already covered. Its current residential portfolio comprises 55 developments with over 4,000 homes at different stages of completion, with an expected turnover of 839.
 
The global coordinators of this issuance were Mirabaud Securities Limited, Sucursal en España and Arcano Valores.