Investing carries serious risks, including partial or total loss of capital. Please read the Key Investment Information Sheet and the Risk factors and login before investing.

Etterbeek’s municipal bond | Youth Pavilion

Building a youth pavilion
Key Investment Information Sheet Loan agreement
€0
total amount raised in round
Investments open at 9 PM
When an investor invests in the proposed project, they subscribe to a municipal bond issued by the municipality of Etterbeek.

Once the investment conditions are fulfilled, Etterbeek will issue a loan based on the outcome of this offering. SPREDS will then sign the loan agreement with Etterbeek in the name and on behalf of the investors subscribing to this offer, for the amount they have subscribed.


Terms of the municipal bond


  • The loan has a duration of 5 years (starting on January 1, 2026).
  • Interest rate:
    • The annual gross interest rate is 3.94% (2.76% net) for residents of Etterbeek (i.e. residents of Etterbeek and legal entities with their registered office in Etterbeek);
    • The annual gross interest rate is 3.44% (2.41% net) for other investors (non-residents of Etterbeek).
  • Repayment and interest payment terms:
    • Period 1: first interest payment only at the end of the period from loan conclusion to December 31, 2025;
    • Period 2: capital repayment over 5 years, in equal installments with interest, from 2027 to 2031, on the first business day of the year.
  • Minimum loan amount: €150,000
  • Maximum loan amount: €460,000


Condition precedent to the issuance of the Etterbeek municipal bond


The loan will only be issued if, within 15 business days from the campaign end date, the following condition precedent to the subscription of the loan issued by ETTERBEEK is met: the total amount of subscription commitments to this municipal bond reaches at least €150,000.


Subscription price


  • The minimum subscription amount per investor is €1,000 (in increments of €500).
  • There are no subscription fees or other fees for investors.


Oversubscriptions


Oversubscriptions are accepted for this offering. At the end of the subscription period, if the maximum offer amount is exceeded, the following priorities will be applied (in this order) to limit the total subscribed amount to the maximum of the offer (investors not falling within these criteria will be refunded):

  1. Amounts subscribed by residents of Etterbeek up to €5,000 of their subscription, in order of valid subscription date;
  2. Amounts subscribed by other investors up to €5,000 of their subscription, in order of valid subscription date;
  3. The portion exceeding €5,000 subscribed by residents of Etterbeek, in order of valid subscription date;
  4. The portion exceeding €5,000 subscribed by other investors, in order of valid subscription date.

Subscription conditions


Etterbeek reserves the right to reject subscriptions if the following conditions are not met by the end date of the subscription period:

  • The investor grants SPREDS a proxy during subscription to represent them and sign the loan agreement with ETTERBEEK to formalize their subscription to the loan;
  • The investor has transferred the subscription amount to a bank account dedicated to the campaign, whose number is provided during the online subscription. Please note: funds are blocked on the dedicated account until the condition precedent is met;
  • The investor has authorized SPREDS to transfer the funds to the account of ETTERBEEK once the subscription period has ended and if the condition precedent of the offer is fulfilled.


Subscription period


The subscription period begins on 30/06/2025 and ends in principle on 14/07/2025.

ETTERBEEK may decide to extend the subscription period if, by 14/07/2025, at least €120,000 has been subscribed:
  • either by extending the period by up to 4 weeks (i.e. until 11/08/2025 at the latest);
  • or reopening the offer in September, for up to 4 weeks (i.e. until 28/10/2025 at the latest).

The loan will start on the date of the signing of the loan agreement with Etterbeek, provided the condition precedent is met – i.e. by 11/08/2025 at the latest if the subscription period ends on 14/07/2025. This date may be later if the subscription period is extended.

Investors benefit from a pre-contractual cooling-off period during which they may revoke their investment offer or expression of interest in the crowdfunding offer at any time without justification and without penalty. The cooling-off period begins when the potential investor makes an offer or expresses interest and ends after four calendar days.


Simulation


The table below simulates the expected repayment for an individual who invested €2,500 in the case where the offer ends on 11/07/2025 and the loan starts on 01/08/2025.


Investment structure


There is no intervention by Spreds Finance in this offer and no participatory notes will be issued following this offer. The investor is a direct lender to the municipality of Etterbeek.

Raise summary

Duration 5 years
Interest rate 3.94% (Etterbeek residents)
3.44% (others)
Reimbursement frequency Annually
Reimbursement type Amortizing
Crowd investments €0
Committed by others €0
Amount raised €0
Total round €0