Research for Action

Dear North Northamptonshire Council,

We would like to ask for an update on your current and historic LOBO loan portfolio.

We have reason to believe that in 2015 you held a certain number of LOBO loans and that some of these may now have been cancelled or transformed into fixed-rate loans. The information requested below is for all the LOBO loans you originally held in 2015 and any changes to them since.

Please provide:

A. A spreadsheet in .xls format, with one line for each loan and the related information under each of the following column headings:
1. Reference number
2. Principal
3. Initial counterparty
4. Most recent counterparty
5. Date when the loan was transferred to the most recent counterparty.*
6. Drawdown date
7. Maturity date
8. Option period indicated in months
9. Teaser rate (if applicable - this is an initial low rate for the first years of the loan)
10. If there is a teaser rate, date when the rate changes to the initial rate
11. Initial interest rate
12. Has the option been exercised?
13. If yes, date when the option was exercised.
14. Most recent interest rate
15. Fairvalue of the loan at the end of the 2015/16 financial year
16. Fairvalue of the loan at the end of the 2016/17 financial year
17. Fairvalue of the loan at the end of the 2017/18 financial year
18. Fairvalue of the loan at the end of the 2018/19 financial year
19. Fairvalue of the loan at the end of the 2019/20 financial year
20. Fairvalue of the loan at the end of the 2020/21 financial year
21. The name of the Treasury Management Advisor at the time the loan was taken out
22. The name of the broker who arranged the loan
23. The fee paid to the broker to arrange the loan
24. Please indicated if the loan has been cancelled, refinanced, restructured, including cases when the options were removed.

*Note: If there have been other counterparties during the term of the loan, please indicate in the notes the name of the other counterparties and the date when the loan was transferred to them.

B. For all the loans that have been cancelled, refinanced or restructured, including cases when the options were removed, please provide the following additional information:
25. The date on which the loan was cancelled, refinanced or restructured.
26. The breakage cost for the cancelling, refinancing or restructuring of the loan
27. New interest rate in the case of a restructuring
28. New maturity date in the case of a restructuring
29. Fairvalue of the new loan at the end of 2016/17
30. Fairvalue of the new loan at the end of 2017/18
31. Fairvalue of the new loan at the end of 2018/19
32. Fairvalue of the new loan at the end of 2019/20
33. Fairvalue of the new loan at the end of 2020/21
34. Name of the advisor for the cancelling, refinancing or restructuring of the loan
35. Fee paid to the advisor for the cancelling, refinancing or restructuring of the loan

C. A second spreadsheet in .xls format, with one line for each loan showing the following information:
- 1st column: internal reference number
- 2nd column: Principal
- 3rd column: initial interest rate
- 4th column: most recent interest rate
- 5th column: Original projection of the total interest to be paid over the whole term of the loan (as from the drawdown date to the original maturity date, independently if the loan has now been cancelled or restructured)
- Followed by one column for each financial year from when the loan was taken out to 2020/21 indicating for each loan the total interest payment made in that year.**

**Note: Please provide the exact payments and not approximate calculations, as payments will vary depending on the calculation method (for example if it is a leap year or not).

D. A copy of all the original loans

Kind regards,

Ludovica Rogers on behalf of Research for Action

Data Requests, North Northamptonshire Council

Thank you for your email. This is an automated response and
acknowledgement of your correspondence.

If you have submitted a request under the Freedom of Information Act
(FOIA) or the Environmental Information Regulations (EIR), your request
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Kind regards

Information Governance Team

 

 

dangos adrannau a ddyfynnir

Dear FOI officer,
Could you kindly update me on the status of my FOI request as I should have received a response by 14 July 2021.
Kind regards,
Ludovica Rogers

Data Requests, North Northamptonshire Council

Thank you for your email. This is an automated response and
acknowledgement of your correspondence.

If you have submitted a request under the Freedom of Information Act
(FOIA) or the Environmental Information Regulations (EIR), your request
will be considered and you will receive our response within the statutory
timescale of 20 working days.

If you have made a request for your own personal data (Subject Access
Request), or to exercise any of your Information Rights, you will receive
a response within one calendar month.  If your request is complex, we may
extend our response timeframe by up to a further two months.  We will
advise you as soon as possible if this is the case.

If we need to clarify any part of your enquiry, or your query is regarding
a different matter one of our Information Governance Team will be in
contact within 5 working days. 

Where clarification is sought in relation to a request for information, or
any fees are due following a fees notice, the statutory response timeframe
will be paused until such time as they are received.

If you have submitted a Complaint you will receive a response within 20
working days under the terms of our Corporate Complaints Procedure.

Kind regards

Information Governance Team

 

 

dangos adrannau a ddyfynnir

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Lucy DaSantos, North Northamptonshire Council

Dear Ludovica

I write in relation to your below request to confirm that it is still in
handling at present. Please accept our apologies for the delay in response
– we are working hard to keep this to a minimum and will make every effort
to provide you with a full response as soon as possible

Thank you for your patience

Kind regards

Lucy DaSantos | Information Officer
North Northamptonshire Council
Swanspool House, Doddington Road, Wellingborough, NN8 1BP
T: 0300 126 3000 | DD: 01933 231822

Twitter: @NNorthantsC
Facebook: @NorthNorthants
Web: [1]www.northnorthants.gov.uk

dangos adrannau a ddyfynnir

Research for Action

Dear FOI officer,
Could you kindly update me on the status of my FOI request.
You can find details of it here: https://www.whatdotheyknow.com/request/2...
Kind regards,
Ludovica Rogers

Lucy DaSantos, North Northamptonshire Council

2 Atodiad

Dear Ludovica

 

Please now find attached the council’s response to your request for
information, once again with our apologies for the delay.

 

Kind regards

 

Lucy DaSantos | Information Officer

North Northamptonshire Council

Swanspool House, Doddington Road, Wellingborough, NN8 1BP

T: 0300 126 3000 | DD: 01933 231822

 

Twitter: @NNorthantsC

Facebook: @NorthNorthants

Web: [1]www.northnorthants.gov.uk

 

 

 

From: Research for Action <[FOI #765596 email]>
Sent: 04 August 2021 14:44
To: Lucy DaSantos <[email address]>
Subject: Re: Update: Freedom of Information request - 2020/21 Update on
LOBO loans

 

Dear FOI officer,

Could you kindly update me on the status of my FOI request.

You can find details of it here:
[2]https://www.whatdotheyknow.com/request/2...

Kind regards,

Ludovica Rogers

dangos adrannau a ddyfynnir

Research for Action

Dear FOI officer,
Could you kindly clarify if the council does not hold LOBO loans, or if it does not hold information on its LOBO loans?
If it does have LOBO loans, but does not hold the information, please could you let me know who does.
Kind regards,
Ludovica Rogers

Lucy DaSantos, North Northamptonshire Council

1 Atodiad

Dear Ludovica

 

Thank you for your email below. Please be advised I have passed this on to
the necessary service area; and am awaiting response at present. I shall
provide you with update & confirmation as soon as is possible.

 

Kind regards

 

Lucy DaSantos | Information Officer

North Northamptonshire Council

Swanspool House, Doddington Road, Wellingborough, NN8 1BP

T: 0300 126 3000 | DD: 01933 231822

 

Twitter: @NNorthantsC

Facebook: @NorthNorthants

Web: [1]www.northnorthants.gov.uk

 

 

 

From: Research for Action <[FOI #765596 email]>
Sent: 06 August 2021 10:29
To: Lucy DaSantos <[email address]>
Subject: RE: Freedom of Information request - 2020/21 Update on LOBO loans

 

Dear FOI officer,

Could you kindly clarify if the council does not hold LOBO loans, or if it
does not hold information on its LOBO loans?

If it does have LOBO loans, but does not hold the information, please
could you let me know who does.

Kind regards,

Ludovica Rogers

dangos adrannau a ddyfynnir

Lucy DaSantos, North Northamptonshire Council

1 Atodiad

Dear Ludovica

 

I write in relation to your below email and can now advise of the
following:

 

North Northants Council (NNC) will eventually have LOBO loans once the
loans currently held in Northamptonshire County Council's (NCC) name have
been disaggregated and NNC's share agreed.  Until then, these loans are
still held in NCC's name so we cannot provide any information on NNC loans
for now as none have been allocated to it.  Information on NCC loans can
be obtained from West Northamptonshire Council (WNC) has they are
overseeing these loans until they have been disaggregated between the two
new unitary authorities (NNC and WNC).

 

As such, if you would like to seek further information regarding the loans
currently held in Northamptonshire County Council’s name, it may benefit
you to contact West Northamptonshire Council directly; and they may be in
position to assist. Should you choose to submit a Freedom of Information
request to them, you are able to do so by emailing the Information
Governance team at [1][email address].

 

I hope that you can find the above to be of assistance.

 

Kind regards                         

 

Lucy DaSantos | Information Officer

North Northamptonshire Council

Swanspool House, Doddington Road, Wellingborough, NN8 1BP

T: 0300 126 3000 | DD: 01933 231822

 

Twitter: @NNorthantsC

Facebook: @NorthNorthants

Web: [2]www.northnorthants.gov.uk

 

 

 

From: Research for Action <[FOI #765596 email]>
Sent: 06 August 2021 10:29
To: Lucy DaSantos <[email address]>
Subject: RE: Freedom of Information request - 2020/21 Update on LOBO loans

 

Dear FOI officer,

Could you kindly clarify if the council does not hold LOBO loans, or if it
does not hold information on its LOBO loans?

If it does have LOBO loans, but does not hold the information, please
could you let me know who does.

Kind regards,

Ludovica Rogers

dangos adrannau a ddyfynnir

Disclaimer

The information contained in this communication from the sender is
confidential. It is intended solely for use by the recipient and others
authorized to receive it. If you are not the recipient, you are hereby
notified that any disclosure, copying, distribution or taking action in
relation of the contents of this information is strictly prohibited and
may be unlawful.

This email has been scanned for viruses and malware, and may have been
automatically archived by Mimecast, a leader in email security and cyber
resilience. Mimecast integrates email defenses with brand protection,
security awareness training, web security, compliance and other essential
capabilities. Mimecast helps protect large and small organizations from
malicious activity, human error and technology failure; and to lead the
movement toward building a more resilient world. To find out more, visit
our website.

References

Visible links
1. mailto:[email address]
2. http://www.northnorthants.gov.uk/