Quabit presents its Business Plan 2017 - 2021
QUABIT is a Spanish real estate group with over 20 years’ experience and has been listed on the Stock Exchange since 2006. The company’s core business is creating value through the full management of the entire real estate cycle through two main business channels: land management and real estate development.
The company’s scope is national, aiming to once again become one of the real estate market leaders in Spain and reposition itself as a clear benchmark of the sector’s consolidation.
RAISING OF INTERNATIONAL FUND FINANCING: AGREEMENT WITH AVENUE CAPITAL GROUP
Line of financing of up to €60m for the purchase of construction-ready land in Madrid and the surrounding area, maturing in 4 years and at an interest rate of 16%.
The drawdowns will finance 70% of the land acquisitions. The remaining 30% will be financed by Quabit.
Possibility of leveraging land with bank financing to considerable enhance the financial costs.
Possibility of early repayment and reuse of the funds.
Quabit signs a binding term sheet for the granting of a credit facility for an amount up to SIXTY MILLION EUROS by certain funds advised by Avenue Europe International Management, L.P
The signing of this credit facility is contemplated within the framework for the financing of new investments established by Quabit in its 2015-2020 Business Plan.