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Quabit Restructures its €123 Million Debt with Avenue Capital

The listed property developer has reached an agreement with Avenue Capital to lower the financing costs associated with its €123.2 million debt and extend the maturity.

Promocion Guadalajara Quabit 1024x627 1
Quabit Inmobiliaria’s housing development in Guadalajara.

The property developer Quabit Inmobiliaria has reached a restructuring agreement for the financing lines granted by funds advised by the global investment firm Avenue Capital, its main financier for the acquisition of land, which amount to 123.2 million euros in total, as reported by the firm in a statement.

With this operation, the company chaired by Félix Abánades has managed to lower the cost of financing to 9% from 16% on line 1 and 12% on lines 2 and 3 from 30 May 2020 onwards.

Read the full article in Spanish.

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