Hosted Debt Security - Issuance
From EUR 25K one-off
(to be charged to the promoter)
What’s Included
What’s NOT Included
- Due diligence of the required information and documentation, on a pre-investment basis, in relation to all target investments for the new compartment responsible for the new debt security (note) issuance, to determine the economic viability and compliance with OECD Anti-Money Laundering requirements
- Review of the legal agreements drafted by the appointed legal counsel in relation to the investments by the new compartment responsible for the new note issuance
- Drafting of the note Final Terms for both the dematerialized and tokenized issuances
- ISIN application with a suitable national numbering agency for the dematerialized issuance tranche only (ISIN not required in case of tokenization)
- Approval of the note issuance by the general partner of the securitization company formed as a Luxembourg special limited partnership, or by the management company if the securitization vehicles is a Luxembourg securitization fund
- Coordination with the appointed paying agent for the registration with the international central securities depository (Clearstream) and for the dematerialization of the notes to be issued by the newly launched compartment
- Access for investors to our Baund Investor App for direct investment in the tokenized securities
- Onboarding due diligence, via digital KYC, of prospect investors wishing to invest, free-of-payment, in the note issued in tokenized form in relation to the compartment
- Non-custodial digital wallet solution within the Baund Investor App to allow for prospect investors to self-custody the security token (using the DFNS infrastructure or similar)
- Creation of the ERC-3643 smart contract for the security token that represents the tokenized note tranche to be issued
- Minting of the security token and transfer to the investor self-custodial wallet
- Opening of a cash account, with assigned EU IBAN, for the newly launched compartment of the securitization vehicle issuing the debt security (note)
- Opening of an MPC crypto wallet for the newly launched compartment, in order to receive subscriptions in selected cryptocurrencies
- Budgeting for the compartment, including determination of liquidity requirements to meet all commitments, comprising expenses, and of interest rates for any credit facility granted to target investment entities (the latter, if applicable)
- Technical listing on the MTF segment of the Vienna Stock Exchange (if required)
- Anything else not specified under WHAT'S INCLUDED
Hosted Debt Security - Admin
EUR 40K / yr
(to be charged to the issuing compartment)
What’s Included
What’s NOT Included
- Domiciliation fee
- Directors’ remuneration of the securitization vehicle's general partner or management company
- Regulatory compliance monitoring
- Corporate administration
- Cash management
- Book-keeping
- Annual note price calculation
- Audit liaison
- Annual financial statements preparation and filing
- FATCA and CRS reporting
- Income tax returns preparation and filing
- Office expenses
- Overall Operations Management, including the coordination of the investment process of the securitization vehicle's issuing compartments following the Issue Date
- Auditor fees
- Cash custodian banking fees
- Annual Baund Investor App servicing fee
- Annual non-custodial wallet fee (tokenized issuance)
- P2P secondary market functionality via the Baund Investor App (tokenized issuance)
- Annual paying agent fees (dematerialized issuance)
- Annual listing agent fees (dematerialized issuance, if listed)
- Annual exchange technical listing fees (dematerialized issuance, if listed)
- Net Wealth Tax compartment attribution and any other applicable government duties
- Assistance for the orderly liquidation of each compartment, when applicable, including any communication with noteholders
- Any corporate action fee or security settlement fees related to any redemption by investors, if this is possible. Such fee will be subtracted from the payout to investors
- Debt security (note) price calculation more frequent than annually (if applicable)
- Secondary market fees (if applicable)
- Banking transaction charges (incoming and outgoing payments)
- Securities custodian fees, only applicable if the underlying investment is bankable (e.g. a dematerialized bond issued by the fundraiser)
- Any stamp duty or tax owed for the investment in the underlying unlisted asset
- Any exchange rate for the exchange amongst fiat currencies or between fiat and cryptocurrencies, for those investors subscribing in crypto
- Anything else not specified under WHAT'S INCLUDED
All the above figures are exclusive of VAT, where applicable. Additional charges may apply depending on additional requirements you may raise with us at the time of structuring.
Dedicated Securitization Vehicle - Setup
EUR 40K one-off
(to be charged to the promoter)
What’s Included
What’s NOT Included
SECURITIZATION FUND OR SCSP
- Drafting of the applicable formation documents of the securitization vehicle being set-up as a securitization fund or as a SCSp, i.e. the General Management Regulations or LPA
- Registration of the securitization vehicle with the Luxembourg RCS and obtainment of the registration number
- Legal Entity Identifier (LEI) request for the securitization vehicle
- FATCA and CRS classification for the securitization vehicle
- IRS GIIN request for the securitization vehicle
- Assistance with the selection of and negotiation of contractual terms with the mandatory services providers, including but not limited to the directors, corporate administrator, cash custodian and auditor
- Coordination of the preparation of due diligence documentation and of the onboarding of the securitization vehicle by mandatory services providers
- Opening of a cash account, with assigned EU IBAN, for the securitization vehicle
- Assistance with the selection of and negotiation of contractual terms with a recommended paying agent for the dematerialization of securities on a European CSD, a listing agent for the technical listing on a EU exchange, a securities custodian for investments in bankable securities, a crypto wallet provider for investments in virtual financial assets, and/or a licensed distributor in case any requires to be appointed for active marketing
- Drafting of the Base Memorandum (for issuances to Professional Investors only, out of scope of the EU Prospectus Regulation, and not contemplating Security Token Offering)
SECURITIZATION COMPANY
- Drafting of the applicable formation document, i.e. the Articles of Association, for the securitization vehicle being set-up as a securitization company, opening of a formation cash account with a Luxembourg authorised institution, and coordination for constitution of the securitization vehicle in front of a public notary
- Public notary fee for the securitization vehicle constitution
- Registration of the securitization vehicle with the Luxembourg RCS and obtainment of the registration number
- Legal Entity Identifier (LEI) request for the securitization vehicle
- FATCA and CRS classification for the securitization vehicle
- IRS GIIN request for the securitization vehicle
- Assistance with the selection of and negotiation of contractual terms with the mandatory services providers, including but not limited to the directors, corporate administrator, cash custodian and auditor
- Coordination of the preparation of due diligence documentation and of the onboarding of the securitization vehicle by mandatory services providers
- Opening of a cash account, with assigned EU IBAN, for the securitization vehicle
- Assistance with the selection of and negotiation of contractual terms with a recommended paying agent for the dematerialization of securities on a European CSD, a listing agent for the technical listing on a EU exchange, a securities custodian for investments in bankable securities, a crypto wallet provider for investments in virtual financial assets, and/or a licensed distributor in case any requires to be appointed for active marketing
- Drafting of the Base Memorandum (for issuances to Professional Investors only, out of scope of the EU Prospectus Regulation, and not contemplating Security Token Offering)
Optional (+ EUR 5,000 one-off)
- Drafting of the applicable formation documents, i.e. the Articles of Association, for the securitisation fund’s Manco or GP, opening of a formation cash account with a Luxembourg authorised institution, and coordination for constitution of the Manco or GP in front of a public notary
- Registration of the Manco or GP with the Luxembourg RCS and obtainment of the registration number
- Opening of a cash account, with assigned EU IBAN, for the Manco or GP
- FOR SECURITIZATION FUND OR SCSP: If not selected as an optional, setup of a dedicated Manco or GP. Instead, we can propose a third-party entity that can act as management company for your securitization fund or SCSp
- On-boarding coordination by non-mandatory service providers (e.g. paying agent, listing agent, securities custodian, crypto wallet provider, third-party distributor)
- On-boarding fees charged by mandatory and non-mandatory service providers, where applicable
- Anything else not specified under WHAT'S INCLUDED
Dedicated Debt Security - Issuance Coordination
EUR 5K one-off
(to be charged to each Dedicated Vehicle’s compartment)
What’s Included
What’s NOT Included
- Due diligence of the required information and documentation, on a pre-investment basis, in relation to all target investments for the new compartment responsible for the new debt security (note) issuance, to determine the economic viability and compliance with OECD Anti-Money Laundering requirements
- Review of any legal agreements drafted by your appointed legal counsel in relation to the investments for the new compartment responsible for the new note issuance
- Review of the note issuance Final Terms drafted by your appointed legal counsel
- ISIN application with a suitable national numbering agency
- Coordination of the review of the issuance Final Terms for the note issuance by the newly launched compartment with the Paying Agent (if applicable)
- Coordination of approval of the note issuance by the responsible party, i.e. the Manco or GP in case of a securitization fund or SCSp, or the securitisation vehicle’s directors in case of a securitization company
- Coordination with the responsible party, i.e. the Manco or GP in case of a securitization fund or SCSp, or the securitisation vehicle’s directors in case of a securitization company, to perform an efficient due diligence of prospect noteholders wishing to invest, free-of-payment, in the note issued in certificate form in relation to the compartment (if applicable)
- Coordination with the appointed paying agent for the registration with the applicable CSD and for the dematerialization of the note to be issued by the newly launched compartment (if applicable)
- Budgeting for the compartment, including determination of liquidity requirements to meet all commitments, comprising expenses, and of interest rates for any credit facility granted to target investment entities (the latter, if applicable)
- Opening of a cash account with the appointed cash custodian of the dedicated vehicle, with assigned EU IBAN, for the newly launched compartment
- Following issuance, if required coordination with the listing agent for the technical listing of the debt securities issuance by the newly launched compartment on selected exchange
- Legal drafting of the note issuance Final Terms or legal counsel fees
- Any compartment or issuance launch fees charged by the mandatory services providers appointed by the securitization vehicle, including the Manco or GP, directors, corporate administrator, cash custodian, and crypto wallet provider
- Fees related to the dematerialization of the note issuance with a the CDS used by the selected paying agent, if applicable – these will be charged directly to the dedicated vehicle’s compartment
- Any security settlement fees related to the initial subscription by investors, as charged by the appointed paying agent, if applicable – these will be charged directly to the hosted compartment
- Any upfront fee to be paid to distributors or other intermediaries, as may be applicable – these will be charged directly to the dedicated vehicle’s compartment
- On-boarding fee charged by the selected exchange – these will be charged directly to the dedicated vehicle’s compartment
- Anything else not specified under WHAT'S INCLUDED
Fractional COO Services
Up to 5 compartments of the Dedicated Vehicle:
EUR 40K / yr / vehicle
After the 5th compartment of the Dedicated Vehicle:
+ EUR 2.5K / yr / compartment
NOTE:
This fee may be renegotiated annually for inflation, in line with the EU Harmonised Index of Customer Prices (HICP)
What’s Included
What’s NOT Included
- Coordination of corporate administration
- Coordination of cash management
- Coordination of book-keeping
- Coordination of annual debt security (note) price calculations
- Assistance with audit liaison
- Overall Operations Management, including the coordination of the investment process of the securitization vehicle’s compartments following the debt security issue date
- Assistance for the orderly liquidation of each compartment, when applicable, including any communication with noteholders
- Securitization vehicle's or Manco's or GP's (as applicable) directorship fees
- Corporate Administrator fees
- Accountant fees
- Auditor fees
- Cash custodian or securities custodian fees (if applicable)
- Crypto Wallet Provider fees (if applicable)
- Luxembourg Net Wealth Tax and any other applicable tax or government duties
- Note price calculation
- Monthly secondary market management (if applicable)
- Annual paying agent fees (if applicable)
- Annual listing agent fees (if applicable)
- Annual exchange technical listing fees (if applicable)
- Cost of the periodic independent valuation of the underlying investments (if required)
- Anything else not specified under WHAT'S INCLUDED
All the above figures are exclusive of VAT, where applicable. Additional charges may apply depending on additional requirements you may raise with us at the time of structuring.