This is an HTML version of an attachment to the Freedom of Information request '£350m Loans to Thurrock Council'.


OFFICIAL
Eastcheap Court
T 020 7862 6610
11 Philpot Lane
E xxxx@xxx.xxx.xx
London
www.dmo.gov.uk
EC3M 8UD
PWLB lending facility
TO:
THURROCK BOROUGH COUNCIL
FROM:
PWLB Fixed Equal Instalments of Principal
DATE:
20 January 2021
SUBJECT:
 PWLB loan Conditional Confirmation
Following your authority's loan application, HM Treasury has conditionally authorised the loan specified , for which the fee 
indicated will be deducted from the amount advanced. HM Treasury may need to ask for further information about your 
application. Acceptance of the loan application remains conditional on any internal review by HM Treasury . 
If your loan application is not approved on the terms listed below, the DMO and/or HM Treasury will send your authority a 
further preliminary email relating to the loan application by 1 pm on the next business day following the date given above. 
This email will advise you that HM Treasury will contact your authority in accordance with the terms of the Operational 
Circular(s) mentioned below regarding (i) any clarification or additional information required as part of its internal review, (ii) 
any changes to the terms listed below necessitated by that review and/or (iii) the refusal of your loan application. 
If neither the DMO nor HM Treasury has sent your authority a further email relating to the approval of the loan application 
in accordance with the paragraph above by 1pm on the next business day following the date given above, this will 
constitute unconditional acceptance of the loan application and your authority may accordingly treat it as such.
The loan will automatically be secured by statute on all the revenues of your authority and is made on the basis of the 
terms and conditions of the Operational Circular(s) mentioned below. Subject to the Operational Circular(s) mentioned 
below, the loan will carry interest at the annual rate stated below. The rate of interest will remain unchanged throughout the 
period of the loan.
We conditionally confirm the details of the following transaction:
Our Reference:
Deal No: 294685
Our Dealer:
Your Dealer:
Loan Principal:
GBP 200,000,000.00
Fee Paid:
GBP  70,000.00
Agreed Terms of Loan:
Made under the terms and conditions of the Operational Circular(s) No. 162
Formula Timing:
YIELD PERIODIC
Deal Date:
20-Jan-2021
Settlement Date:
22-Jan-2021
Maturity Date:
22-Jan-2023
Term:
2 years
0 months
Standard Interest Rate:
 0.880%
Certainty Rate:
-0.200%
Annual Interest Rate:
 0.680%
Interest Amount:
GBP 1,700,000.00
Additional information supplied with application - this loan will be applied to expenditure with 01 month(s).

Cash Flow Schedule:
Date
Ccy
Amount
Comments
Your Bank Account
22-Jan-2021
GBP
199,930,000.00 We Pay
PRINCIPAL
NATWEST
600911
72380373
22-Jul-2021
GBP
680,000.00 We Receive
INTEREST
THE ROYAL BANK OF S607080
  10013288
22-Jul-2021
GBP
50,000,000.00 We Receive
REPAY PRINCIPAL
THE ROYAL BANK OF S607080
  10013288
24-Jan-2022
GBP
510,000.00 We Receive
INTEREST
THE ROYAL BANK OF S607080
  10013288
24-Jan-2022
GBP
50,000,000.00 We Receive
REPAY PRINCIPAL
THE ROYAL BANK OF S607080
  10013288
22-Jul-2022
GBP
340,000.00 We Receive
INTEREST
THE ROYAL BANK OF S607080
  10013288
22-Jul-2022
GBP
50,000,000.00 We Receive
REPAY PRINCIPAL
THE ROYAL BANK OF S607080
  10013288
23-Jan-2023
GBP
170,000.00 We Receive
INTEREST
THE ROYAL BANK OF S607080
  10013288
23-Jan-2023
GBP
50,000,000.00 We Receive
REPAY PRINCIPAL
THE ROYAL BANK OF S607080
  10013288