Which Costa Rican real estate assets will be pledged as collateral for the Luxembourg bonds?

How will these parcels be valued for collateral purposes?

Is a first-ranking mortgage on the land feasible and legally enforceable?

Are there any other debts or encumbrances that could dilute investor protection?

What is the exact contractual and ownership relationship between the Luxembourg issuer and the Costa Rican entities holding the land?

What is the rationale for using 66% of the official fiscal value, rather than an independent market valuation, as the reference for collateral coverage?

Who will be the legal holder of the first-ranking mortgage in Costa Rica (bondholders directly, a security agent, or a trustee)?

What are the estimated enforcement and recovery costs, and how would they be funded?

Upon enforcement, would bondholders become direct owners of the land, or would ownership pass through a local SPV or fiduciary structure?

Could you provide a detailed list of the parcels pledged as collateral at closing, including cadastral references, surface, zoning, and individual fiscal values?