Dear Hyndburn Borough Council,
A. Please provide a spreadsheet in .xls format containing the following information for each of the LOBO loans you held in the 2015/16 financial year (please use a row for each loan and a column for each parameter indicated below):
1. Internal reference number
3. Initial counterparty
4. Date loan was signed
5. Drawdown date
6. Maturity date
7. Option period (number of months)
8. Start date for teaser rate (if applicable)
9. Teaser interest rate (if applicable - intended as the discount rate sometimes offered before the initial rate)
10. Start date for initial rate
11. Initial interest rate (intended as the rate set for the term of the loan until the first option is called)
12. First option date
13. Has the option been exercised?
14. Most recent date when option was exercised (if applicable)
15. Interest rate in 2015/16
16. Interest paid in 2015/16
17. Fair value in March 2016
18. Interest rate in 2018/19
19. Interest paid in 2018/19
20. Fair value in March 2019
21. Current counterparty
22. Name of treasury management advisor when the loan was taken out
23. Name of broker who arranged the loan
24. Fee paid to the broker for the loan
B. Please provide copies of:
1. The original LOBO loan contracts
2. The invoices for the broker fees
Thank you for your e-mail requesting information under the Freedom of Information Act 2000. Your request is being considered and you will receive the information requested within the statutory timescale of 20 working days as defined by the Freedom of Information Act 2000, subject to the information not being exempt or containing a reference to a third party.
For your information, the Act defines a number of exemptions which may prevent release of the information you have requested. There will be an assessment and if any of the exemption categories apply then the information will not be released. You will be Informed if this is the case, including your rights of appeal.
If the information you request contains reference to a third party then they may be consulted prior to a decision being taken on whether or not to release the information to you. You will be informed if this is the case.
There may be a fee payable for 'reasonable disbursement' costs such as postage and photocopying. This will be considered and you will be informed if a fee is payable. In this event the fee must be paid before the information is processed and released. The 20 working day time limit for responses is suspended until receipt of the payment. If appropriate, the information may be provided in paper copy, normal font size. If you require alternative formats, e.g. language, audio, large print, etc. then please let me know.
If you have any queries or concerns then please contact me on 01254 388111 or [Hyndburn Borough Council request email] .
Hyndburn Borough Council
Your request for information under the Freedom of Information Act 2000 has been considered and a response is below:
I have attached a spreadsheet which covers the information requested.
I have not attached invoices for brokers fees as the last payment was November 2007 and copies were not kept on file.
Creditor invoices older than x10years have since been destroyed.
Details of cost of broker fees are included on the spreadsheet.
I have not attached copies of the LOBO contracts.
All detailed information relating to the contracts is included in the spreadsheet.
If you have any queries or concerns or if you are dissatisfied with the handling of your request then please contact me at
Legal and Democratic Services,
Hyndburn Borough Council,
BB5 0PF or: [Hyndburn Borough Council request email]
If you are still dissatisfied then you can also complain to the Information Commissioner at:
Information Commissioner's Office,
SK9 5AF Telephone: 01625 545 700 www.informationcommissioner.gov.uk
Hyndburn Borough Council
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