2020/21 Update on LOBO loans
Dear Knowsley Metropolitan Borough 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 a certain number of LOBO loans and that some of these may now have been cancelled or transformed into fixed-rate loans. The information requested below is for all the LOBO loans you originally held in 2015 and any changes to them since.
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. Most recent interest rate
9. Fairvalue of the loan at the end of the 2015/16 financial year
10. Fairvalue of the loan at the end of the 2016/17 financial year
11. Fairvalue of the loan at the end of the 2017/18 financial year
12. Fairvalue of the loan at the end of the 2018/19 financial year
13. Fairvalue of the loan at the end of the 2019/20 financial year
14. Fairvalue of the loan at the end of the 2020/21 financial year
15. The name of the Treasury Management Advisor at the time the loan was taken out
16. The name of the broker who arranged the loan
17. The fee paid to the broker to arrange the loan
18. Please indicated if the loan has been cancelled, refinanced, restructured, including cases when the options were removed and the loan was transformed into a fixed-rate loan.
*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.
B. For all the loans that have been cancelled, refinanced or restructured, including cases when the options were removed, please provide the following additional information:
19. The date on which the loan was cancelled, refinanced, restructured or the option was removed
20. The breakage cost for the cancelling, refinancing or restructuring the loan
21. New interest rate in the case of a restructuring
22. New maturity date in the case of a restructuring
23. Fairvalue of the new loan at the end of 2016/17
24. Fairvalue of the new loan at the end of 2017/18
25. Fairvalue of the new loan at the end of 2018/19
26. Fairvalue of the new loan at the end of 2019/20
27. Fairvalue of the new loan at the end of 2020/21
28. Name of the advisor for the cancelling, refinancing or restructuring of the loan
29. Fee paid to the advisor for arranging the cancelling, refinancing or restructuring of the loan
C. 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: most recent 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 when the loan was taken out to 2020/21 indicating for each loan the total interest payment made in that year.**
**Note: Please provide the exact payments and not approximate calculations, as payments will vary depending on the calculation method (for example if it is a leap year or not).
D. A copy of all the original loans
Kind regards,
Ludovica Rogers on behalf of Research for Action
Dear Mr Rogers
Thank you for your e-mail received on 15 June 2021 requestion information about LOBO loans.
Please note you can now log a Freedom of Information request on our online portal on the following link:
https://www.knowsley.gov.uk/your-council...
I have recorded your request for information under reference F2021.06.4468.
This has been passed to the relevant service and you will receive a response by 12 July 2021.
In line with guidance published by the Information Commissioner’s Office, the council may make a charge for the provision of information – for example in order to cover the costs of postage (in line with the relevant postal charges) or charges for printing and copying (which will reflect photocopying charges levied by the council’s public libraries) or if this falls within the regulations of an EIR (Environmental Information).
You will be informed if a fee is to be applied before information is to be provided.
If you need further information please contact me.
Kind regards,
Customer Liaison Team
Knowsley Council
Archway Road
Huyton
Knowsley
Merseyside
L36 9UX
Dear FOI officer,
Could you kindly update me on the status of my FOI request as I should have received a response by 12 July 2021.
Kind regards,
Ludovica Rogers
Your FOI request has been completed
Dear Ludovica Rogers
Your FOI with Reference Number : 4468 has been completed please [1]click
here to view it
Customer Liaison Team
Knowsley Council
Archway Road
Huyton
Merseyside
L36 9UX
[2]www.knowsley.gov.uk
[3]Knowsley
This e-mail and any attachments are confidential. It may contain
privileged information and is intended for the named recipient(s) only. It
must not be distributed without consent. If you are not one of the
intended recipients, please notify the sender immediately and do not
disclose, distribute, or retain this email or any part of it and do not
take any action based on it.
Unless expressly stated, opinions in this email are those of the
individual sender, and not of Knowsley MBC. Legally binding obligations
can only be created for, or be entered into on behalf of, Knowsley MBC by
duly authorised officers or representatives.
Knowsley MBC excludes any liability whatsoever for any offence caused, any
direct or consequential loss arising from the use, or reliance on, this
e-mail or its contents. We believe but do not warrant that this e-mail and
any attachments are virus free. You must therefore take full
responsibility for virus checking and no responsibility is accepted for
loss or damage arising from viruses or changes made to this message after
it was sent. Knowsley MBC reserves the right to monitor and/or record all
e-mail communications through its network in accordance with relevant
legislation.
References
Visible links
1. https://knowsleytransaction.mendixcloud....
2. http://www.knowsley.gov.uk/
3. Stay at Home
https://www.knowsleynews.co.uk/coronavir...
Your FOI request has been completed
Dear Ludovica Rogers
Your FOI with Reference Number : 4468 has been completed please click on the link
below to view it
[1]https://knowsleytransaction.mendixcloud....
Customer Liaison Team
Knowsley Council
Archway Road
Huyton
Merseyside
L36 9UX
[2]www.knowsley.gov.uk
[3]Knowsley
This e-mail and any attachments are confidential. It may contain
privileged information and is intended for the named recipient(s) only. It
must not be distributed without consent. If you are not one of the
intended recipients, please notify the sender immediately and do not
disclose, distribute, or retain this email or any part of it and do not
take any action based on it.
Unless expressly stated, opinions in this email are those of the
individual sender, and not of Knowsley MBC. Legally binding obligations
can only be created for, or be entered into on behalf of, Knowsley MBC by
duly authorised officers or representatives.
Knowsley MBC excludes any liability whatsoever for any offence caused, any
direct or consequential loss arising from the use, or reliance on, this
e-mail or its contents. We believe but do not warrant that this e-mail and
any attachments are virus free. You must therefore take full
responsibility for virus checking and no responsibility is accepted for
loss or damage arising from viruses or changes made to this message after
it was sent. Knowsley MBC reserves the right to monitor and/or record all
e-mail communications through its network in accordance with relevant
legislation.
References
Visible links
1. https://knowsleytransaction.mendixcloud....
2. http://www.knowsley.gov.uk/
3. Stay at Home
https://www.knowsleynews.co.uk/coronavir...
Dear Knowsley Metropolitan Borough Council,
You mention in your response that you are using an exemption for the loan contracts and for the lender names.
However, you do not provide the rest of the information requested.
Could you kindly provide the missing information or clarify if the exemption extends to the rest of the FOI.
Kind regards,
Ludovica Rogers
Your FOI request has been completed
Dear Ludovica Rogers
Your FOI with Reference Number : 4468 has been completed please click on the link
below to view it
[1]https://knowsleytransaction.mendixcloud....
Customer Liaison Team
Knowsley Council
Archway Road
Huyton
Merseyside
L36 9UX
[2]www.knowsley.gov.uk
[3]Knowsley
This e-mail and any attachments are confidential. It may contain
privileged information and is intended for the named recipient(s) only. It
must not be distributed without consent. If you are not one of the
intended recipients, please notify the sender immediately and do not
disclose, distribute, or retain this email or any part of it and do not
take any action based on it.
Unless expressly stated, opinions in this email are those of the
individual sender, and not of Knowsley MBC. Legally binding obligations
can only be created for, or be entered into on behalf of, Knowsley MBC by
duly authorised officers or representatives.
Knowsley MBC excludes any liability whatsoever for any offence caused, any
direct or consequential loss arising from the use, or reliance on, this
e-mail or its contents. We believe but do not warrant that this e-mail and
any attachments are virus free. You must therefore take full
responsibility for virus checking and no responsibility is accepted for
loss or damage arising from viruses or changes made to this message after
it was sent. Knowsley MBC reserves the right to monitor and/or record all
e-mail communications through its network in accordance with relevant
legislation.
References
Visible links
1. https://knowsleytransaction.mendixcloud....
2. http://www.knowsley.gov.uk/
3. Stay at Home
https://www.knowsleynews.co.uk/coronavir...
Dear Ms Rogers,
All the information that you requested is contained within the spreadsheet that was sent to you. I have re-attached this for your information. Please see the labelled sheets as AB, C and D.
I hope this assists.
Kind regards,
Customer Liaison Team
Knowsley Council
Archway Road
Huyton
Knowsley
Merseyside
L36 9UX
We work to defend the right to FOI for everyone
Help us protect your right to hold public authorities to account. Donate and support our work.
Donate Now