2020/21 Update on LOBO loans

Research for Action made this Rhyddid Gwybodaeth request to Antrim and Newtownabbey District Council

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Roedd y cais yn rhannol lwyddiannus.

Research for Action

Dear Antrim and Newtownabbey District Council,

We would like to ask for an update on your current and historic LOBO loan portfolio.
We are aware that in 2015 you held 4 LOBO loans, that one of these has been transformed into a fixed-rate loan, and that the others have reached their maturity. The information requested below is for all the LOBO loans you originally held in 2015 independently of their current status.

Please provide:

A. A spreadsheet 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. Lender option period ( for example 6 months, 1 year, 5 years)
7. Teaser rate (if applicable)
8. Initial rate
9. Start date of the initial rate
10. Date of the first option
11. Fairvalue of the loan at the end of the 2016/17 financial year
12. Fairvalue of the loan at the end of the 2017/18 financial year
13. Fairvalue of the loan at the end of the 2018/19 financial year
14. Fairvalue of the loan at the end of the 2019/20 financial year
15. Fairvalue of the loan at the end of the 2020/21 financial year
16. Name of the Treasury Management Advisor at the time the loan was taken out.
17. Fee paid to the broker for arranging the loan (Martin Brokers for the Barclays loan, Tullet & Tokyo Forex for the other)

*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. A second spreadsheet 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: current 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 1994/95 to 2020/21 indicating for each loan the total interest payment made in that year.**

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

C. A copy of all the original loans

Kind. regards,

Ludovica Rogers on behalf of Research for Action

FOI Requests, Antrim and Newtownabbey District Council

5 Atodiad

Dear Ms Rogers

Ref: 2021/05/005

Thank you for your email requesting information. Your request will be
treated in accordance with the Freedom of Information Act 2000. Please see
attached Privacy Notice with regard to our processing of your personal
data.

We will aim to provide you with a response on or before 04 June 2021.

In the meantime, if you have any further queries, please do not hesitate
to contact me.

Regards
Janet Moreland
Information Governance Assistant

FOI Requests
Antrim Civic Centre, 50 Stiles Way, Antrim. BT41 2UB [2]ANBC Logo
T: 028 9446 3113
E: [1][Antrim and Newtownabbey District Council request email]

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dangos adrannau a ddyfynnir

FOI Requests, Antrim and Newtownabbey District Council

7 Atodiad

Dear Ms Rogers

Council Response: 2021/05/005

Thank you for your Freedom of Information request. Please find responses
to your questions in the attached table. You will see from the response
table that we have applied an exemption under Section 43 of the Freedom of
Information Act 2000 and so have not provided all the information which
you had requested. If you are dissatisfied with the way in which we have
handled your request for information you may request an internal review by
contacting:

Liz Johnston
Head of Governance
Antrim and Newtownabbey Borough Council
Antrim Civic Centre
50 Stiles Way
BT41 2UB

Email: [email address]

If after the internal review is completed you remain dissatisfied you may
appeal to the Information Commissioner by contacting:

Information Commissioner’s Office
3rd Floor
14 Cromac Place
Belfast
BT7 2JB

If I can be of further assistance, please do not hesitate to contact me.

Regards

Caroline McIlroy
Information Governance Assistant

FOI Requests
Antrim Civic Centre, 50 Stiles Way, Antrim. BT41 2UB [2]ANBC Logo
T: 028 9446 3113
E: [1][Antrim and Newtownabbey District Council request email]

[3]Mayors Charities Banner

[4]Facebook [5]Twitter
This email and any files transmitted with it are confidential and intended
solely for the use of the individual or entity to whom they are addressed.
If you have received this email in error please notify the sender
immediately by email and delete this email from your system. Any opinions
expressed in the email message you have received are those of the
individual and not necessarily of Antrim and Newtownabbey Borough Council.
The Council reserves the right to monitor all inbound and outbound email
for security/audit purposes. All personal data will be processed in
accordance with current data protection legislation – for more information
see our website www.antrimandnewtownabbey.gov.uk/gdpr.  This email message
and any attachments has been scanned for the presence of computer viruses.
However, Antrim and Newtownabbey Borough Council does not guarantee these
messages are virus free and accepts no liability for any damage sustained
as a result of computer viruses. It is the recipient's responsibility to
ensure that their system is virus-free. Unless expressly stated in the
body of the text of the email, this email is not intended to form a
binding contract.​

dangos adrannau a ddyfynnir