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Westminster Green Investment 2

Funding green and energy efficiency measures for Seymour Leisure Centre

Interest rate 4.1% a year
Term 5 years
Target £2m
Raised £69,671
91 days left
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About Westminster City Council

Westminster City Council is committed to taking action on climate change. They declared a climate emergency in 2019, and have already invested in cutting their own emissions. But they also want to support residents and local businesses to make a positive impact in their neighbourhoods, by reducing their climate impact and improving the local environment.

How is the council using the money raised?

The money will be used towards the major renovation of the Seymour Leisure Centre, which is currently underway. There are a number of additional green and energy efficiency measures that will be installed as part of this work, which the investment will help fund. Examples are:

  • Air source heat pumps
  • Insulation
  • LED lighting
  • Solar PV
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All investments from Westminster City Council are compliant with the Green Loan Principles - internationally recognised standards that are also used by the UK Government for its green investments products. They require that the money invested can only be used to fund eligible green projects.

Learn more
Image shows an illustration of how the Seymour Leisure Centre will appear after renovation work is complete
Artists impression of the revamped Seymour Leisure Centre

Key terms

BorrowerWestminster City Council
Use of funds

Funding Eligible Green Projects under the Green Finance Framework

Interest rate4.1% 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 date31 March 2031
Capital repaymentLump sum on maturity
Offer open date1 December 2025
Offer close date2 March 2026The Loan Opportunity may be withdrawn before the Offer Close Date at the Borrower's discretion subject to it posting notice of withdrawal on the Abundance website.
Minimum borrowing amount£5.00
Maximum borrowing amountThere is no formal Maximum Borrowing Amount. The Borrower may raise such amount as agreed with Abundance in the context of its wider borrowing limits.
Initial interest periodThis will start on the date the lender makes their investment and ends on 31 March 2026.
Interest periodsFrom 1 April to 30 September and 1 October to 31 March each year, starting from 1 April 2026.
Return structure10 semi-annual payments of Interest on the last day of each Interest Period. Capital is repaid as a lump sum on the Maturity Date.
Set up Fee0.75% of total amount raisedThis is the fee paid to Abundance in its role as Arranger. The interest rate above is quoted after fees.
Administration Fee0.20% of total amount raised per yearThis is the fee paid to Abundance in its role as Agent. The interest rate above is quoted after fees.
Early repayment optionsThe Borrower has the option to make a full early repayment of the Loans by giving notice to Abundance. An early repayment fee equal to 12 months’ Interest will apply.

Documents

Loan Conditions
Download PDF Together with the key terms, the loan conditions form the legal agreement that define the terms of the investment.

Payment schedule

Find out how much you could earn using the calculator below.

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Capital repaid £0.00
Interest £0.00
Total returned £0.00
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