Restructuring of LOBO loans
Dear South Gloucestershire Council,
A. How many LOBO loans (number of loans and total principal) has the council restructured, refinanced or for which the terms of the contracts have changed since 2015.
B. For such loans please provide a spreadsheet with the following information (a row for each loan and each parameter listed in a separate column):
1. Internal reference number
2. Principal of the original LOBO loan
3. Initial counter-party of the original LOBO loan
4. Drawdown date of the original LOBO loan
5. Maturity date of the original LOBO loan
6. Date when the LOBO loan was restructured/refinanced
7. Breakage cost or fee paid to the counter-party for the refinancing/restructuring
8. How was the loan restructured/refinanced? (i.e. loan was transformed into fixed rate loan by removing the option, or loan was repaid with a new bank loan, or with a PWLB loan, or other - please specify)
9. Principal of new PWLB or bank loan used to refinance the LOBO loan (if applicable)
10. Maturity date of new PWLB or bank loan used to refinance the LOBO loan (if applicable)
11. Interest rate of new PWLB or bank loan used to refinance the LOBO loan (if applicable)
12. Fair value of new PWLB or bank loan used to refinance the LOBO loan (if applicable)
13. Name of any third-party advisor used for the restructuring/refinancing
14. Fee paid to the advisor for the restructuring/refinancing
15. Name of broker who arranged the restructuring/refinancing
16. Fee paid to the broker for the restructuring/refinancing
C. Please provide copies of new contracts and any other official documents related to the restructuring/refinancing
D. Please provide invoices for the broker fees for the restructuring/refinancing
Yours faithfully,
Ludovica Rogers
Dear Ludovica Rogers,
Thank you for your recent request for information under the Freedom of Information Act.
Your request will now be considered in accordance with the Act by the Finance team.
The 20 day period for considering your request commenced on 19/3/19
In the event that the information you have requested is to be disclosed, it will be sent to you no later than 16/4/19. If we cannot respond by that date then we will write to you again.
Kind regards
John Madden
Customer Relations Assistant
South Gloucestershire Council
01454 866208
Good morning,
Please see response cover letter, spreadsheet and copies of official
documents (x 4) attached.
Regards,
Caroline Vafeas
Accountant – Treasury Management
Corporate Finance & Resources
Finance, Revenues & Welfare Service
South Gloucestershire Council
01454 864727
+ Chief Executive and Corporate Resources Department, Finance Revenues and
Welfare Service, PO Box 1953, Bristol, BS37 0DB
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South Gloucestershire Council Achieving excellence for our residents
and their communities, ensuring South Gloucestershire continues to be a
great place to live and work
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