Résultats de recherche

Yes, Saxum will provide independent quarterly reports to investors, covering financial, legal, and construction progress aspects of the project.

Saxum acts as the development and project-management company, the construction company executes the works, Advanced safeguards and releases funds based on milestones, and 506 is responsible for third-party accounting and certification.

Advanced will act as escrow and monitoring agent, holding investor funds and releasing them only upon satisfaction of predefined conditions. It will have the contractual authority to block or postpone disbursements if milestones, documentation or compliance checks are not met, in accordance with the funding agreement and the monitoring framework. It will not act as a discretionary investment manager but as a control layer protecting the agreed use of proceeds.

Quarterly reporting is intended to include: (i) updated overview of pledged collateral (including any changes to the collateral pool), (ii) lots sold vs. unsold inventory and pipeline, (iii) available cash at project and Issuer level, (iv) outstanding senior debt and other liabilities, and (v) updated downside and stress‑test scenarios compared to the base case. The aim is to provide an investor‑grade dashboard enabling ongoing risk assessment.

Milestones will be defined in measurable terms (e.g. specific infrastructure segments completed, permits obtained, pre‑sales achieved). Their achievement will be certified by independent third parties where appropriate (for example, engineering / technical inspectors for construction milestones, notaries or lawyers for legal milestones, auditors for financial covenants). The names and appointment process for these independent certifiers will be set out in the documentation to ensure that neither the sponsor nor the developer can unilaterally validate their own performance.

No, bondholders do not have collective consent or veto rights over matters such as new debt, changes to the master plan, or asset disposals.

This is intentional:
The master plan is a long-term, highly regulated development framework that has already undergone a complex and costly approval process.
Any material change would require multiple government approvals, significant engineering rework, and extended delays—making such adjustments impractical and highly unlikely.

Furthermore, the financing structure protects bondholders through:
Over-collateralization;
A ring-fenced use of proceeds;

And a debt structure that ranks senior and secured, limiting operational risk exposure without requiring active bondholder governance.

Yes. Investors will benefit from an independent annual audit or financial review, conducted by a qualified third-party firm.

This has been part of the governance structure from the outset and will be implemented regardless of any specific investor request.
The audit or review will cover the use of proceeds, financial position of the issuer/SPV, and key project metrics. Results will be shared with bondholders as part of the standard reporting package.

This measure reflects our commitment to transparency, accountability, and professional investor communication.