Q7.4 - Are interest payments fully dependent on land sales, or is there a debt service reserve account (DSRA) in place? - FAQ
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Q7.4

Are interest payments fully dependent on land sales, or is there a debt service reserve account (DSRA) in place?

Use of Funds and Escrow Account 20/01/2026
Interest payments are not solely dependent on land sales. A debt service reserve mechanism is embedded into the structure.

As funds are progressively raised from investors, a portion of each tranche is retained at the Luxembourg level to constitute a Debt Service Reserve Account (DSRA). This reserve is sized to secure interest payments during the initial periods, regardless of the project's commercial cash flow.

This structure ensures that investors benefit from predictable interest servicing, with funds already held in a ring-fenced account in Luxembourg, outside the operational risk perimeter of the project.

Full details on the DSRA allocation and mechanics will be disclosed in the final bond documentation.
Autres questions dans "Use of Funds and Escrow Account"
Q7.1

Will investor funds be placed in an escrow account?
Q7.2

How is the use of bond proceeds controlled?
Q7.3

How many months of interest payments are secured in cash at closing, if any?
Q7.4 Actuelle

Are interest payments fully dependent on land sales, or is there a debt service reserve account (DSRA) in place?
Q7.5

What is the commercial break-even point (number of lots / minimum pricing) required to service interest and infrastructure costs?
Q7.6

8. DSRA sizing and control : Will the final DSRA mechanics be fully hard-coded in the bond documentation (minimum months, permitted uses, replenishment rules), and will the DSRA be held at issuer level under Luxembourg law with restricted access?
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