ecobond four receives applications for over £12 million with two days remaining
Britain’s greenest energy company, Ecotricity, has so far received applications for over £12 million of ecobond four, its latest corporate mini-bond which enables its customers and the wider public to invest directly and share in the financial benefits of the Company’s work.
ecobond four offers investors a return of 5.0% (Gross) per annum for Ecotricity customers (or 4.5% (Gross) per annum for everyone else) and follows three previous mini-bond issues which raised almost £38 million.
Applications for ecobond four close on Wednesday 30th November 2016 at 5pm.
Ecotricity founder, Dale Vince, said: “When we launched ecobond one, it was a pretty radical idea, with a simple ambition: to give people the opportunity to share in the financial benefits of the Green Energy revolution.
“With ecobonds one, two and three, we’ve raised almost £38 million – which has been a massive boost to our work.
“We’ve made great progress over the last twelve months – we’re supplying Green Energy to over 190,000 customers, we’ve finished four new wind parks, and we’ve just got approval to build our first Green Gas mill, the first of its kind in Britain.
“And now, to continue our momentum, we’ve launched ecobond four – which will give customers and the wider public the chance to share the benefits of the next phase of our work.”
Ecotricity previously issued ecobond one (2010) and ecobond two (2011), which were both oversubscribed and both raised £10 million. Ecobond three raised just under £18 million in autumn 2015.
Find out more about ecobond four here, with applications closing on Wednesday 30th November 2016.
ecobonds four are for an initial five year term and will then automatically extend for further 12 month periods, subject to notice of redemption being given by the bondholder. ecobonds four cannot be transferred, traded or converted. ecobonds four are an unsecured debt and there is no certainty Ecotricity Bonds plc (or Ecotricity Group Limited, as guarantor), will be able to repay them.
Holders of ecobonds four are not protected against loss by the Financial Services Compensation Scheme.
This press release, which is a financial promotion for the purposes of Section 21 of the Financial Services and Markets Act 2000 (“FSMA”), is issued by the Company which accepts responsibility for the information contained herein. This letter has been approved as a financial promotion for UK publication by SPARK Advisory Partners Limited (“SPARK Advisory”), which is authorised and regulated by the Financial Conduct Authority. SPARK Advisory is registered on the Financial Conduct Authority’s Register with registered number FRN182762. SPARK Advisory is acting exclusively for the Company in connection with the issue of ecobonds four for promotion to the limited class of persons listed in FCA COBS Rule 4.7.7 (being (a) certified as a "high net worth investor"; (b) certified as a "sophisticated investor"; (c) self-certified as a "sophisticated investor) or (d) certified as a "restricted investor"). SPARK Advisory will not regard any other person as its customer or be responsible to any other person for providing the protections afforded to customers of SPARK Advisory or for advising any such person in relation to the issue of ecobonds four.
Applications should only be made on the basis of the Invitation Document and the Instrument.