Our lending offer

We have £4bn to provide low-cost debt to local authorities delivering capital-intensive projects across the UK. 

  • Our minimum loan size is £5 million
  • Pricing is currently gilts +40bps (40bps lower than PWLB certainty rate)
  • We offer terms of up to 50 years

Our local authority lending must meet the first three of our investment principles:

  • Investment principle 1 - The investment supports the government's growth and clean energy missions

  • Investment principle 2 - The investment is in capital intensive projects, businesses or assets

  • Investment principle 3 - The investment is intended to deliver a positive financial return 

We prioritise four sectors: clean energy, advanced manufacturing, digital & technologies and transport 

We have a particular ambition to work with local authorities delivering building decarbonisation, heat networks, green transport and mixed infrastructure projects.

Why speak to us

Flexible borrowing terms

We offer the option to:

  • stagger drawdowns that can be matched to project payment milestones during an initial availability period
  • take a repayment holiday that allows the borrower to roll interest payments into the principal of the loan during the early phases of the project
  • sculpt repayment profiles that match principal and interest payments with the cashflows of the project
     

Independent project review

Our approval process:

  • provides an independent view of a project’s viability
  • can be completed in 10-12 weeks and timed to align with the borrower’s internal governance processes
  • leverages local authorities’ business case process to minimise the burden on the borrower
     

Efficient pricing

We offer:

  • current pricing of gilts + 40bps (40bps lower than the Public Works Loan Board in most cases)
  • the option to fix borrowing costs at financial close or at individual drawdowns
  • loans without any arrangement or commitment fees

If you would like to discuss your infrastructure project and explore how we may be able to assist, please contact the team.
 

If you have a project that you would like to discuss with us please get in touch