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Quabit Accomplishes Refinancing & Reduces Debt to €317 Million

25/03/2014 – Expansion

The real estate company has successfully completed its financial debt refinancing, implementing in the first quarter all transactions foreseen in the agreement with lenders. Thus, Quabit cut in debt by €497 million down to €317 million via asset sales.

It has also contributed with €6.2 million of liquidity and unleashed assets worth €86 million. The restructuring includes an agreement with Sareb that delayed the payment of €237 million owed to it until 2016 when all other loans reach their maturity.

 

 

Original article: Expansión

Translation: AURA REE