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Silicius Socimi Raises €29M In Financing To Accelerate Asset Purchases

4 October 2017 – Press release

Silicius has signed a long-term financing agreement in order to continue with the acquisition of several new profitable assets ahead of its debut on the stock market in 2018.

The Socimi managed by Mazabi has taken another step forward. The company, which specialises in long-term profitable assets, is preparing a new phase of growth with the acquisition and incorporation into its existing portfolio of new assets, in accordance with its policy to invest in assets that generate stable returns.

Silicius has signed its first financing agreement with two Spanish banks for a combined amount of €29 million. The average maturity period for the financing is 12.5 years. Over the next few months, the company will secure another €13 million of financing, which it will use to make new acquisitions and invest in Capex for its existing properties.

Since this is the first loan that Silicius has signed, the company’s objective was to obtain financing conditions that “match” its long-term Business Plan and allow the payment of an annual dividend to its shareholders.

According to Juan Diaz de Bustamante, Director General of Silicius, “The company’s average indebtedness may not exceed 25-30% if we are to maintain the objective of paying a stable dividend to our shareholders”.

Silicius is governed by the following principles: conservative investments over the long term, the liquidity of our assets, the payment of an annual dividend and low indebtedness.

Currently, Silicius owns assets worth €120 million and its expected annual revenues amount to €6 million. Its assets all generate stable income over the long-term, with a combination of some of the investments held in value-added products.

The objective of Silicius is to make its debut on the stock market in 2018 with a value of between €250 million and €300 million through the incorporation of investor partners and real estate projects considered “suitable”. Once listed, the aim is to incorporate institutional shareholders to achieve the minimum objective of €400 million, the amount necessary to consider the Socimi’s shares liquid. The target investors are “family offices” and “institutional investors” looking to invest in exchange for an annual dividend payment and liquidity through listed shares.

Original story: Press release

Translation: Carmel Drake