TECNICIL IMOBILIÁRIA Issues Bond Loan
Tecnicil Imobiliária, founded in 1996, is the company of the Tecnicil SGPS Group that deals with the promotion of real estate. It offers a wide range of real estate products to the Capeverdian and international markets, from infra-structured lots to the construction of private condominiums apartments.
The company has achieved a lead position in real estate market and tourism real estate, becoming today´s reference in Cape Verde´s urban landscape.The commercial success of Project Vila Verde Resort – Santa Maria (VVR-SM), on the Island of Sal, contributed to the unprecedented expansion of real estate in Capeverde and the size of the Group. The project, which represents more than 80% of the company´s net has launched the destination of Cape Verde and Tecnicil Real Estate. A Empresa apresenta níveis de rentabilidade acima da média do sector, baseada na eficiência e economias de escala e com uma rentabilidade dos capitais próprios superior à média Cabo-verdiana, alcançando o Top 3, das empresas do sector. The Company has profit levels above industry average, based on efficiency and economies of scale and with returns on equity higher than the Capeverdian average, reaching the Top 3 companies in the business. It was the first private Capeverdian company with securities listed on the Stock Exchange.The mobilization of financial resources needed to implement Tecnicil Real Estate projects and the demand for returns on company assets are the main areas of activity in this domain. On the one hand, it is crucial to ensure adequate financial coverage for projects the at hand, implementing them within their initially set parameters. Second, it has become a real challenge to meet the financial needs of the Group, against the backdrop of reduced liquidity in the market, given the limitations of Cape Verde´s financial market. Facts such as these make vital the search for solutions and innovative financial engineering that allow the maximization of company strategy in the long run and capital structure. In this context, the issuance of the referred to bonds is intended to finance the project Vila Verde Resort, consisting of the IPO subscription of 1,102,650 (one million, one hundred and two thousand, six hundred and fifty) Ordinary Bonds with a par value of 1,000 $ 00 (one thousand escudos) each, totalling 1,102,650,000 $ 00 (one billion, one hundred and two million, six hundred fifty thousand escudos) in accordance with General Assembly Deliberations, at a flat rate of 7,5%.Potential subscribers, can also place their subscription orders through the Cape Verde Stock Exchange- BVC website (www.bvc.cv), filling out the respective forms (available here) and sending it to the bank where they have an account, between the hours of 8:00 A.M. and 1:00 P.M. In sinthesis· PRODUCT: TECNICIL IMOBILIÁRIA BONDS- 7,5% 2015· ISSUER- TECNICIL IMOBILIÁRIA· Amount- 1.102.650.000$00 (10.000.000 Euros)· Subscription Price - 1.000 ECV (one thousand escudos)· Interest rate – 7,5% (flat)· Maturity – 5 Years· Objective – Financing for the Vila Verde Resort Project– Santa Maria · Warranty - a priority mortgage for autonomous parts destined for Commerce and/or Services including the Vila Verde Project.