2020/21 Update on LOBO loans

Research for Action made this Rhyddid Gwybodaeth request to Derbyshire County Council

Automatic anti-spam measures are in place for this older request. Please let us know if a further response is expected or if you are having trouble responding.

Roedd y cais yn rhannol lwyddiannus.

Research for Action

Dear Derbyshire County 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 5 LOBO loans and that some of these have been cancelled and others have been transformed into fixed-rate loans. The information requested below is for all the LOBO loans you originally held in 2015.

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. Has the option been exercised?
7. If yes, date when the option was exercised.
8. New interest rate, if the option was exercised and a new rate was accepted.
9. Fairvalue of the loan at the end of the 2015/16 financial year
9. Fairvalue of the loan at the end of the 2016/17 financial year
10. Fairvalue of the loan at the end of the 2017/18 financial year
10. Fairvalue of the loan at the end of the 2018/19 financial year
11. Fairvalue of the loan at the end of the 2019/20 financial year
12. Fairvalue of the loan at the end of the 2020/21 financial year
14. The name of the broker who arranged the loan
15. The fee paid to the broker to arrange the loan
13. 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.

For all the loans that have been cancelled, refinanced or restructured, including cases when the options were removed, please provide the following additional information:
14. The date on which the loan was cancelled, refinanced or restructured.
15. The breakage cost for the cancelling, refinancing or restructuring of the loan
16. New interest rate in the case of a restructuring
17. New maturity date in the case of a restructuring.
18. Fairvalue of the new loan at the end of 2016/17
19. Fairvalue of the new loan at the end of 2017/18
20. Fairvalue of the new loan at the end of 2018/19
21. Fairvalue of the new loan at the end of 2019/20
22. Fairvalue of the new loan at the end of 2020/21
23. Name of the advisor for the cancelling, refinancing or restructuring of the loan
24. Fee paid to the advisor for the cancelling, refinancing or restructuring of the loan

B. 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: 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 2001/02 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).

Kind regards,

Ludovica Rogers on behalf of Research for Action

Access 2 Info (Commissioning Communities and Policy), Derbyshire County Council

Dear Ms Rogers,

 

I refer to your request for information received on 08 June 2021.

 

We will be dealing with your request under the Freedom of Information Act
2000. In accordance with the legislation, the deadline for responding is
20 working days from the receipt of the request, this being the 06 July
2021. However, we shall endeavour to deal with your request promptly, and
if possible before this date.

 

 

Yours sincerely,

 

Business Services Assistant

Access to Information Team

Derbyshire County Council

County Hall

Matlock

DE4 3AG       

 

 

 

This email or email thread section has been classified CONTROLLED - This
email requires controlled access by Council personnel and / or intended
recipient(s) only. This email may contain business or personal
information. Any personal information you have given us will be processed
in accordance with our privacy notices, available at
[1]www.derbyshire.gov.uk/privacynotices.

We’ve now got coronavirus [2]community testing centres across Derbyshire.
One in three with the virus have no symptoms, so get tested to protect
your family and those you work with.

--------------------------------------------------------------------------

Think before you print! Save energy and paper. Do you really need to print
this email?

Derbyshire County Council works to improve the lives of local people by
delivering high quality services. You can find out more about us by
visiting [3]www.derbyshire.gov.uk.
If you want to work for us go to our job pages on
[4]www.derbyshire.gov.uk/jobs. You can register for e-mail alerts,
download job packs and apply on-line.

dangos adrannau a ddyfynnir

CONTROLLED

References

Visible links
1. http://www.derbyshire.gov.uk/privacynoti...
2. https://www.derbyshire.gov.uk/social-hea...
3. http://www.derbyshire.gov.uk/
4. http://www.derbyshire.gov.uk/jobs
5. http://www.derbyshire.gov.uk/privacynoti...

Finance FOI (Commissioning Communities and Policy), Derbyshire County Council

1 Atodiad

Dear Ludovica,

 

Thank you for your Freedom of Information request.  I am currently in the
process of collating the information in order to respond. 

 

However, quite a number of Officers that I need to contact are currently
on annual leave. 

 

I am emailing today to ask if you would kindly permit a short extension to
your response date until the 13^th July 2021.

 

However we will endeavour to respond before this date.

 

Kind regards

 

Mary Cundy | Senior Accountancy Assistant | Finance & ICT | Commissioning,
Communities and Policy | Derbyshire County Council | County Hall, Matlock,
Derbyshire DE4 3AG | Direct dial: 01629 538717 
Visit us at [1]www.derbyshire.gov.uk | Follow us on [2]Twitter | Find us
on [3]Facebook | [4]Chat with me on teams

 

This email or email thread section has been classified CONTROLLED - This
email requires controlled access by Council personnel and / or intended
recipient(s) only. This email may contain business or personal
information. Any personal information you have given us will be processed
in accordance with our privacy notices, available at
[5]www.derbyshire.gov.uk/privacynotices.

We’ve now got coronavirus [6]community testing centres across Derbyshire.
One in three with the virus have no symptoms, so get tested to protect
your family and those you work with.

--------------------------------------------------------------------------

Think before you print! Save energy and paper. Do you really need to print
this email?

Derbyshire County Council works to improve the lives of local people by
delivering high quality services. You can find out more about us by
visiting [7]www.derbyshire.gov.uk.
If you want to work for us go to our job pages on
[8]www.derbyshire.gov.uk/jobs. You can register for e-mail alerts,
download job packs and apply on-line.

dangos adrannau a ddyfynnir

CONTROLLED

References

Visible links
1. http://www.derbyshire.gov.uk/
2. http://www.twitter.com/derbyshirecc
3. http://www.facebook.com/derbyshirecc
4. https://teams.microsoft.com/l/chat/0/0?u... address]
5. http://www.derbyshire.gov.uk/privacynoti...
6. https://www.derbyshire.gov.uk/social-hea...
7. http://www.derbyshire.gov.uk/
8. http://www.derbyshire.gov.uk/jobs
9. http://www.derbyshire.gov.uk/privacynoti...

Finance FOI (Commissioning Communities and Policy), Derbyshire County Council

2 Atodiad

 

Dear Ludovica,

 

Thank you for your request dated 8.6.2021.

 

I can confirm that the Council holds the requested information.

 

Your enquiry was as follows:

 

“ 

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.
Has the option been exercised?

7. If yes, date when the option was exercised.

8. New interest rate, if the option was exercised and a new rate was
accepted.

9. Fairvalue of the loan at the end of the 2015/16 financial year 9.
Fairvalue of the loan at the end of the 2016/17 financial year 10.
Fairvalue of the loan at the end of the 2017/18 financial year 10.
Fairvalue of the loan at the end of the 2018/19 financial year 11.
Fairvalue of the loan at the end of the 2019/20 financial year 12.
Fairvalue of the loan at the end of the 2020/21 financial year 14. The
name of the broker who arranged the loan 15. The fee paid to the broker to
arrange the loan 13. 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.

 

For all the loans that have been cancelled, refinanced or restructured,
including cases when the options were removed, please provide the
following additional information:

14. The date on which the loan was cancelled, refinanced or restructured.

15. The breakage cost for the cancelling, refinancing or restructuring of
the loan 16. New interest rate in the case of a restructuring 17. New
maturity date in the case of a restructuring.

18. Fairvalue of the new loan at the end of 2016/17 19. Fairvalue of the
new loan at the end of 2017/18 20. Fairvalue of the new loan at the end of
2018/19 21. Fairvalue of the new loan at the end of 2019/20 22. Fairvalue
of the new loan at the end of 2020/21 23. Name of the advisor for the
cancelling, refinancing or restructuring of the loan 24. Fee paid to the
advisor for the cancelling, refinancing or restructuring of the loan

 

B. 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: 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 2001/02 to 2020/21
indicating for each loan the total interest payment made in that year.**

 

“ 

 

The request has been considered under the Freedom of Information Act 2000.
The response to your request is as follows:

 

Please see attached spreadsheet

                 

I hope this now satisfies your request.

 

However, should you wish the outcome to be reviewed, please follow the
procedure as set out below:-

 

If you wish to challenge this decision, please send your comments to:

 

Stage 1

Access to Information Solicitor

Legal Services

Derbyshire County Council

County Hall

Matlock

DE4 3AG

Email: [1][Derbyshire County Council request email]

 

Stage 2

After completing the above procedure, if you wish to challenge the
decision further, then you have a right to contact the Information
Commissioner’s Office as follows:

Information Commissioner’s Office

Wycliffe House

Water Lane

Wilmslow

Cheshire

SK9 5AF

Tel: 0303 123 1113/Fax: 01625 524510

[2]www.ico.org.uk/complaints.aspx

 

Should you have further questions or queries, please do not hesitate to
get in contact.

 

Yours sincerely

 

 

Mary Cundy | Senior Finance Assistant | Finance & ICT | Commissioning,
Communities and Policy | Derbyshire County Council | County Hall, Matlock,
Derbyshire DE4 3AG | Direct dial: 01629 538717 
Visit us at [3]www.derbyshire.gov.uk | Follow us on [4]Twitter | Find us
on [5]Facebook | [6]Chat with me on teams

 

This email or email thread section has been classified CONTROLLED - This
email requires controlled access by Council personnel and / or intended
recipient(s) only. This email may contain business or personal
information. Any personal information you have given us will be processed
in accordance with our privacy notices, available at
[7]www.derbyshire.gov.uk/privacynotices.

We’ve now got coronavirus [8]community testing centres across Derbyshire.
One in three with the virus have no symptoms, so get tested to protect
your family and those you work with.

--------------------------------------------------------------------------

Think before you print! Save energy and paper. Do you really need to print
this email?

Derbyshire County Council works to improve the lives of local people by
delivering high quality services. You can find out more about us by
visiting [9]www.derbyshire.gov.uk.
If you want to work for us go to our job pages on
[10]www.derbyshire.gov.uk/jobs. You can register for e-mail alerts,
download job packs and apply on-line.

dangos adrannau a ddyfynnir

CONTROLLED

References

Visible links
1. mailto:[Derbyshire County Council request email]
2. http://www.ico.org.uk/complaints.aspx
3. http://www.derbyshire.gov.uk/
4. http://www.twitter.com/derbyshirecc
5. http://www.facebook.com/derbyshirecc
6. https://teams.microsoft.com/l/chat/0/0?u... address]
7. http://www.derbyshire.gov.uk/privacynoti...
8. https://www.derbyshire.gov.uk/social-hea...
9. http://www.derbyshire.gov.uk/
10. http://www.derbyshire.gov.uk/jobs
11. http://www.derbyshire.gov.uk/privacynoti...