Memery Crystal Advises on innovative, community focused Solar Bonds offer by Big60Million

As its first major initiative, Big60Million developed, financed and constructed a solar farm close to the village of Willersey in the Costwolds.  The farm produces enough energy to power over 1,100 houses over the course of a year.  Big60Million are seeking to raise up to £4,000,020 through the sale of the initial 5 year bonds.

Each bond is priced at £60 and pays a fixed 7 percent return (gross) per annum for 5 years, after which there is an option to be repaid the initial capital investment or participate in the a further 20-year Big60Million investment opportunity.  Applications for the bonds can currently be made on the website www.big60million.co.uk.

Proceeds from the Big60Million Solar Bonds will be used to pay back the costs incurred to construct the Willersey project and partly to operate and maintain the project.  Big60Million have offered the assets of Willersey Solar Farm as security to bond holders.

The Memery Crystal team was led by corporate partner David Walker and included corporate colleague Matthew Pawlak, tax partner Tim Crosley and tax solicitor Jessica Gibbs.

Memery Crystal previously advised a number of other UK companies on the issue of retail corporate bonds, including the The King of Shaves, Hotel Chocolat, Ecotricity, Caxton FX, The Jockey Club, Firerock Energy, SmartWater Technology and Golfbreaks.com.

David Walker commented: “We are delighted to have assisted Big60Million with the development and issue of the Big60Million Solar Bonds, and are looking forward to seeing the positive impact on the community that the creative use of mini-bonds can have.  We are excited about the benefits that mini-bonds have brought to so many companies and organisations across a wide range of sectors, and that they are continuing to gain in popularity.”

Memery Crystal is a recognised leader for its corporate finance work, covering M&A, private equity and IPO/fundraising for UK and international companies.  The firm has been highly ranked for its excellence in handling M&A and IPO deals by both Chambers UK and The Legal 500, acting for public and private companies as well as for their nominated advisers and brokers.