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West Berkshire 2025

Funding rooftop solar at council owned buildings across the borough.

Interest rate 1.2% a year
Term 5 years
Total Invested £1m
626  investors
Maturity date 15 Oct 2025
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About West Berkshire Council

West Berkshire District Council is the statutory corporation and unitary local authority for the governance and provision of local government services to West Berkshire. West Berkshire is located within the South East of England, with a population of approximately 160,000 and covering an area of around 272 square miles.

West Berkshire Council has ambitious plans to tackle the climate crisis. The council unanimously declared a climate emergency on 2nd July 2019 and since then, they’ve been busy taking the first steps to tackle it. After extensive stakeholder consultation, including a climate conference in October 2019 attended by over 300 people, they approved their Environment Strategy on 16 July 2020.

How did the council use the money raised?

The money raised in this investment helped fund new rooftop solar at council-owned sites around West Berkshire. The sites include:

  • A storage building at Greenham Common, an important open space for local people
  • The council’s own HQ at Market Street in Newbury
  • The Phoenix Resource Centre in Newbury, which provides services for adults with learning disabilities, physical disabilities, frailty and dementia
  • Schools in Aldermaston and Burghfield Common
  • Willink Leisure Centre at Burghfield Common
The council are investing in rooftop solar across the borough
The council are investing in rooftop solar across the borough

Key terms

BorrowerWest Berkshire Council
Use of funds

Help fund the installation of rooftop solar panels at council owned sites around West Berkshire.

Interest rate1.20% a yearThis is the interest rate paid by the Local Authority to lenders and does not include the cost of fees paid to Abundance in its role as Arranger and Agent.
Term period5 years after end of 'Initial interest period'
Maturity date15 October 2025
Capital repaymentRegular instalments
Offer open date16 July 2020
Offer close date10 October 2020
Minimum borrowing amount£50,000.00
Maximum borrowing amount£1,000,000.00
Initial interest periodThis will start on the date the lender makes their investment and ends on 15 October 2020.
Interest periodsFrom 16 October to 15 April and 16 April to 15 October each year, starting from 16 October 2020.
Return structure10 semi-annual returns of Interest and Capital on the last day of each Interest Period with the last one, on the Maturity Date.
Early repayment optionsThe local authority can repay early on any payment date. An early repayment fee equal to 1 months’ Interest will apply.

Documents

Debenture Deed
Download PDF The debenture deed sets out the legal agreement and terms for this investment.

Payment schedule

This table gives a breakdown of what is due to be paid back on this investment, based on an example investment of £1,000.

Payment schedule table
Payment date Capital repayment Interest Total
15 April 2021 £97.33 £5.98 £103.31
15 October 2021 £97.91 £5.43 £103.34
19 April 2022 £98.50 £4.81 £103.31
17 October 2022 £99.09 £4.24 £103.33
17 April 2023 £99.69 £3.63 £103.32
16 October 2023 £100.28 £3.05 £103.33
15 April 2024 £100.89 £2.44 £103.33
15 October 2024 £101.49 £1.84 £103.33
15 April 2025 £102.10 £1.22 £103.32
15 October 2025 £102.72 £0.61 £103.33
Total £1,000.00 £35.12 £1,035.12