Restructuring of LOBO loans

Response to this request is long overdue. By law, under all circumstances, Bury Metropolitan Borough Council should have responded by now (details). You can complain by requesting an internal review.

Research for Action

Dear Bury Metropolitan Borough 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

Customer Contact Team, Bury Metropolitan Borough Council

6 Attachments

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Customer Contact Team

________________________________

Thank you for contacting us, we aim to reply as soon as possible and this e-mail box is checked regularly.

Our normal working hours are 8.45am to 5.00pm Monday to Friday, excluding bank holidays.

You can use our online service to report a problem using this link https://www.bury.gov.uk/reportaproblem

Outside our working hours and only if the issue requires immediate attention please telephone our emergency team on 0161 253 6606.

Customer Contact Team
Bury Council
.

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________________________________
Did you know what services are available at Whittaker St Council Offices Digital Hub in Radcliffe?

Monday to Friday 9am to 4.45pm

7 Internet Access pc's available for customers you will either need a library card or we can join you if you bring ID

Monday to Friday 9am to 4.45pm

An additional 7 pcs with access to Bury Council and Direct Gov with freephones to contact council offices/Six Town Housing and Step Change Debt Charity.

Wednesday 9.30am - 12.30pm

Citizens Advice Drop in Session.

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Bury Metropolitan Borough Council

 Customer Contact Team

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

Thank you for contacting us regarding your FOI Request, your request has
been passed to the appropriate departments(s):

Resources and Regulation

Should you need to speak to us regarding this, your reference is: 
3189365.

If you have any further questions about this issue please E-mail
[1][Bury Council request email] quoting your reference number.

Customer Contact Team
Bury Council

[2][IMG] [3]Receive your council tax bill by e-mail.
Help reduce costs and preserve the environment
[4][IMG] [5]Pay your council tax bill by direct debit
[6][IMG] [7]Find out when we will empty your bins

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Research for Action

Dear Bury Metropolitan Borough Council,
your response to my FOI request is well overdue.
Please provide the information requested as soon as possible.
Kind regards,
Ludovica Rogers

Customer Contact Team, Bury Metropolitan Borough Council

6 Attachments

[cid:image001.gif@01D3676F.AD492880]<http://www.bury.gov.uk/EmailAutoReply/Bu...>

Customer Contact Team

________________________________

Thank you for contacting us, we aim to reply as soon as possible and this e-mail box is checked regularly.

Our normal working hours are 8.45am to 5.00pm Monday to Friday, excluding bank holidays.

You can use our online service to report a problem using this link https://www.bury.gov.uk/reportaproblem

Outside our working hours and only if the issue requires immediate attention please telephone our emergency team on 0161 253 6606.

Customer Contact Team
Bury Council
.

[cid:image003.jpg@01D18A63.2D7961A0]<http://www.bury.gov.uk/EmailAutoReply/Em...>

Receive your council tax bill by e-mail.<http://www.bury.gov.uk/ebills>
Help reduce costs and preserve the environment

[cid:image004.jpg@01D18A63.2D7961A0]<http://www.bury.gov.uk/EmailAutoReply/DD...>

Pay your council tax bill by direct debit<http://www.bury.gov.uk/directdebit>

[cid:image008.jpg@01D18A63.2D7961A0] <http://www.bury.gov.uk/EmailAutoReply/Bi...>

Find out when we will empty your bins and sign-up for e-mail reminders<http://www.bury.gov.uk/bincollections>

[cid:image009.jpg@01D18A63.2D7961A0]<http://www.bury.gov.uk/EmailAutoReply/Em...>

Access your Business Rate Account on-line and receive your bill by email?
http://www.bury.gov.uk/brebills

[cid:image010.jpg@01D18A63.2D7961A0]<http://www.bury.gov.uk/EmailAutoReply/DD...>

Pay your Business Rate Account by direct debit?<http://www.bury.gov.uk/index.aspx?articl...>

________________________________
Did you know what services are available at Whittaker St Council Offices Digital Hub in Radcliffe?

Monday to Friday 9am to 4.45pm

7 Internet Access pc's available for customers you will either need a library card or we can join you if you bring ID

Monday to Friday 9am to 4.45pm

An additional 7 pcs with access to Bury Council and Direct Gov with freephones to contact council offices/Six Town Housing and Step Change Debt Charity.

Wednesday 9.30am - 12.30pm

Citizens Advice Drop in Session.

-----------------------------------------------------------------
Why not visit our website www.bury.gov.uk

show quoted sections