DC Advisory advised Quabit Inmobiliaria on its debt restructuring

Background

• Quabit Inmobiliaria is a listed Spain based Real Estate promoter
• The Company has presence at national level and in South America

Transaction overview

• DC Advisory advised Quabit Inmobiliaria on its debt restructuring
• This restructuring process has consisted in the sale of part of its assets to its lenders (c. €500m) and refinancing of the remaining debt in value of c. €320m
• DC Advisory successfully arranged a common liquidity contribution (c. €6m) and the release of mortgaged-backed assets in value of c. €90m by the financial entities
• In addition DC Advisory arranged the Company’s entry into a long-term sales agreement with its major lender (SAREB) in order to disposed its mortgaged-backed assets
• The agreement guarantees the financial feasibility of the Company in the medium term, allowing it to gear efforts towards running the business for selling or developing its assets
• The debt restructuring agreement was completed after 12 months of negotiations with main lenders