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Corporate Finance
Desde 1990, Mirabaud ofrece una amplia gama de servicios de asesoramiento y ejecución a un creciente número de empresas cotizadas y privadas. Su oferta comprende análisis financiero, servicios de ejecución, conocimiento especializado en mercados de capitales, financiación e intermediación institucional.
Case study
Mirabaud advised Quabit Inmobiliaria, in the first High Yield Corporate Bond issued by a Real Estate developer. Mirabaud acted as Structurer and Joint Bookrunner for the transaction.
We are extremely proud of having structured and placed such an innovative high yield bond under very attractive conditions for our client, Quabit. Market financing cost for land acquisitions when we closed the transaction was around 15%-18% for mid-market companies, and our bond had a coupon of 8.25%, less than half. We are specialists in designing bespoke financing solutions for our clients even under complex market conditions.
Issuer | Quabit Finance, S.A. (100% subsidiary of Quabit Inmobiliaria, S.A.) |
Industry | Real Estate |
Type of issue | High Yield Corporate Bond |
Use of funds | Acquisition, development and promotion of land |
Governing law | Spanish law |
Incurrence Covenants | Loan to Value and Net Financial Debt(1) / EBITDA |
Size | € 20,000,000 |
Coupon | 8.25% - 99% par |
Maturity | 4 years (100% bullet) |
Rank | Senior secured |
Market | Frankfurt Stock Exchange - Non regulated Market (Freiverkehr) |
Mirabaud Role | Structurer and Joint Bookrunner (in addition to other value added services such as Private Placement and Settlement Bank) |
Case Study
Corporate finance
Head of Corporate Finance & Capital Markets