Decision details
Approval of the terms of the loan and equity facility between Brent Council and i4B Holdings Ltd (Non-Key Officer Recordable Decision)
Decision Maker: Corporate Director of Finance & Resources
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
Purpose:
To agree the terms of the £40m additoinal loan and equity facility between the Council and i4B Holdings Ltd as agreed by Cabinet on 13 October 2025.
Decision:
That the Corporate Director Finance and Resources:
i) Approves the terms of the £40m facility to i4B Holdings Ltd, as agreed by Cabinet on 13 October 2025.
ii) Approves the terms of the facility in (i) will comprise £32m loan and £8m equity.
iii) Approves the terms of the loan agreement with associated debenture.
Reasons for the decision:
The Board of i4B Holdings Ltd have been in discussions with the Council on increasing the facilities provided by the Council and this agreement will allow i4B to take advantage of a variety of borrowing tenures provided by the Public Works Loan Board (PWLB).
Both parties are looking to commence a £40m new facility consisting of capital and equity ratio split of 80:20.
In February 2024, Cabinet approved a new loan and equity facility of £40m for i4B Holdings Ltd for the provision of PRS accommodation. The proposed terms between the Council and i4B Holdings Ltd would allow borrowing within all tenures provided by the PWLB.
In October 2025, Cabinet delegated authority to the Corporate Director Finance and Resources to agree the terms of the £40m loan facility to i4B.
Alternative options considered:
Officers considered various options of revised terms and loan repayment options and concluded that mirroring the previous terms of 80% loan and 20% equity is most appropriate.
Interests and Nature of Interests Declared:
None.
Wards Affected: (All Wards);
Cabinet/Committee Decision or Scheme of Delegation: Delegated authority - Cabinet meeting, 13 October 2025.
Parties Consulted: The Deputy Leader and Cabinet Member for Finance and Resources has been consulted.
Contact: Oliver Simms, Head of Finance Email: Oliver.Simms@brent.gov.uk.
Publication date: 10/12/2025
Date of decision: 10/12/2025