Open for investment

Raised £1,785,489

Bagnall Energy Regular Access Bond

4.00% p.a.

Standard Rate

IFISA

Eligible

Regular access*

Bond closing date (or earlier).

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Type Solar

Asset Backed No

StatusOperational

Estimated loan to value 11%

Capital is at risk and returns are not guaranteed. This is a 115 month Bond and is not readily realisable.

Project

The Bagnall Energy Regular Access Bond is an opportunity to lend directly to Bagnall Energy Limited (‘Bagnall Energy’), a company that has interests in a diverse range of sectors including solar, wind, hydro and anaerobic digestion businesses. It intends to continue following this strategy while further diversifying its portfolio into other energy infrastructure projects.

As at 30 September 2016, Bagnall Energy’s audited net asset value was £95.0 million giving the Bond a LTV of approximately 10.5%, based on net assets at that time.

The Bond will offer investors a chance to earn a fixed annual interest rate over a minimum term of two months and up to a maximum of ten years.

Unlike other Downing Crowd Bonds, the Bagnall Energy Regular Access Bond is not secured.

This means that in the event of a default on the Bond, the Bondholders would not be able to take control of the assets of the company to recover their funds.

To protect Bondholders' position, Bagnall Energy is restricted as to how much it can borrow under a gearing covenant. Full details of this are set out in the Offer Document.

A further difference is that the term is flexible, with investor redemptions possible each month (subject to sufficient notice and liquidity).

Bagnall Energy was formerly known as Bagnall Renewables Limited.

Past performance is not an indication of future performance. Capital is at risk and returns are not guaranteed.

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About

Established in 2013, Bagnall Energy has been supporting the renewable energy sector for over four years. The company has built up a diverse portfolio of over 30 different holdings in energy generating assets including, but not limited to, solar, wind, hydro and anaerobic digestion. In the 12 months to 30 September 2016, Bagnall Energy generated operating profits of £2.8 million.1

Bagnall Energy is managed by Downing LLP, an investment manager with over £875 million in funds under management.2 Downing has a wealth of experience in the energy generating sector having completed over 100 deals and managing over £300 million of assets in the renewable energy sector.2

Past performance is not an indication of future performance. Capital is at risk and returns are not guaranteed.

1Source: Bagnall Energy Limited financial statements.

2Source: Downing LLP (as at 31 March 2017)