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H&F Green Investment Phase 1

Improving urban green spaces, helping roll out sustainable drainage and active travel measures.

Interest rate 4.85% a year
Term 5 years
Total Invested £1m
866  investors
Maturity date 28 Feb 2029
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About Hammersmith & Fulham Council

Hammersmith & Fulham Council wants to help create a green, clean and sustainable future. Its top-rated climate and ecological strategy and action plan - developed in collaboration with residents - guides their ambitious journey to making H&F carbon net zero. They want to build a thriving green future, with rich ecosystems that help support both people and nature.

How is the council using the money raised?

The money invested will help fund a range of projects from Hammersmith & Fulham Council's climate action programme. These are expected to include:

  • community infrastructure to reduce transport emissions, such as mobility hubs
  • investing in improving biodiversity of green spaces
  • climate adaption measures such better drainage and green roofs.

This investment is Green Loan Principles compliant

This investment has been issued under a Green Finance Framework (PDF). This is a voluntary standard which sets out how Hammersmith & Fulham Council intends to manage its green local authority securities in the future, and outlines how they will meet the Green Loan Principles. This assures investors that funds raised can only be used to help them deliver on eligible green projects from within this framework, and Abundance will monitor the use of funds across the investment term to ensure the principles are being adhered to.

A group of local residents standing in Eelbrook Common taking in part in the Tiny Forest planting day
Eelbrook Common Tiny Forest planting day in Fulham

Key terms

BorrowerHammersmith & Fulham Council
Use of funds

To finance Eligible Green Projects from the Green Finance Framework, primarily in the following categories:

  • Clean Transportation
  • Climate Change Adaptation
  • Living and Natural Resources
Interest rate4.85% 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 date28 February 2029
Capital repaymentRegular instalments
Offer open date15 November 2023
Offer close date13 February 2024
Minimum borrowing amount£5.00
Maximum borrowing amount£1,000,000.00
Initial interest periodThis will start on the date the lender makes their investment and ends on 29 February 2024.
Interest periodsFrom 1 March to 31 August and 1 September to 28 February each year, starting from 1 March 2024.
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.
Arrangement 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.
Management fee0.15% 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 local authority can repay early on any payment date. 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.
Green Finance Framework
Download PDF This document provides the overarching criteria and guidelines for how the council will raise funding for eligible green projects and ensure ongoing compliance with the Green Loan Principles.

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
2 September 2024 £89.57 £24.44 £114.01
28 February 2025 £91.74 £21.89 £113.63
1 September 2025 £93.96 £20.01 £113.97
2 March 2026 £96.24 £17.43 £113.67
31 August 2026 £98.58 £15.36 £113.94
1 March 2027 £100.97 £12.74 £113.71
31 August 2027 £103.41 £10.48 £113.89
29 February 2028 £105.92 £7.87 £113.79
31 August 2028 £108.49 £5.36 £113.85
28 February 2029 £111.12 £2.67 £113.79
Total £1,000.00 £147.23 £1,147.23