2020/21 Update on LOBO loans
Dear Blaenau Gwent County 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 one LOBO loan and that this may now have been cancelled or transformed into a fixed-rate loan. This request is for information about the original loan and anything that may have changed about it in the last years.
A. Please provide for the loan:
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. New interest rate, if the option was exercised and a new rate was accepted.
9. Fairvalue of the loan at the end of the 2016/17 financial year
10. Fairvalue of the loan at the end of the 2017/18 financial year
11. Fairvalue of the loan at the end of the 2019/20 financial year
12. Fairvalue of the loan at the end of the 2020/21 financial year
13. Please indicated if the loan has been cancelled, refinanced, restructured, including cases when the options were removed.
*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. If the loan has been cancelled, refinanced or restructured, including the case when the option was removed, please provide the following additional information:
14. The date on which the loan was cancelled, refinanced or restructured.
15. The breakage cost for the cancelling, refinancing or restructuring of the loan
16. New interest rate in the case of a restructuring
17. New maturity date in the case of a restructuring.
18. Fairvalue of the new loan at the end of 2016/17
19. Fairvalue of the new loan at the end of 2017/18
20. Fairvalue of the new loan at the end of 2018/19
21. Fairvalue of the new loan at the end of 2019/20
22. Fairvalue of the new loan at the end of 2020/21
23. Name of the advisor for the cancelling, refinancing or restructuring of the loan
C. A spreadsheet showing the following information:
- 1st column: internal reference number
- 2nd column: Principal
- 3rd column: initial interest rate
- 4th column: current 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 2004/05 to 2020/21 indicating for the loan the total interest payment made in that year.**
**Note: Please provide the exact payments and not approximations based on calculations within the spreadsheets, as payments will vary depending on the calculation method (for example if it is a leap year or not).
Kind regards,
Ludovica Rogers on behalf of Research for Action
Dear Ludovica Rogers,
We acknowledge receipt of your Freedom of Information request and will
liaise with the relevant Department in order to provide a response.
We will endeavour to provide this information within 20 working days.
Yours faithfully
Information Governance Team / Tîm Llywodraethu Gwybodaeth
H Blaenau Gwent County Borough Council
Legal Section, The General Offices, Steel Works Road, Ebbw
Vale, South Wales NP23 6DN
H Cyngor Bwrdeistref Sirol Blaenau Gwent
Mae'r Adain Gyfreithiol, Y Swyddfeydd Cyffredinol, Heol Gwaith Dur,
Glyn Ebwy NP23 6DN
Mae’r Cyngor yn croesawu gohebiarth yn Gymraeg a saesneg a byddwn yn
cyfathrebu gyda chi yn eich dewis iaith, dim ond I chi rhoi gwybod I ni pa
un sydd well gennych. Ni fydd gohebu yn Gymraeg yn creu unrhyw oedi.
The Council welcomes correspondence in Welsh and English and we will
communicate with you in the language of your choice, as long as you let us
know which you prefer. Corresponding in Welsh will not lead to any delay.
If you are unhappy with the handling of your request, you can ask us to
review our response. Requests for reviews should be submitted within 40
days of the date of receipt of our response to your original request –
email: [1][Blaenau Gwent County Borough Council request email].
If you are unhappy with the outcome of our review, you can write to the
Information Commissioner, who can be contacted at:
Information Commissioner’s Office - Wales
2^nd Floor Churchill House
Churchill Way
Cardiff
CF10 2HH
Telephone: 0330 414 6421
Email: [2][email address]
Dear Ludovica Rogers,
In response to your Freedom of Information request, please see our
response in the attached document.
I trust this answers your request.
Kind regards
Information Governance Team
Tîm Llywodraethu Gwybodaeth
H Blaenau Gwent County Borough Council
Legal Section, The General Offices, Steel Works Road, Ebbw
Vale, South Wales NP23 6DN
H Cyngor Bwrdeistref Sirol Blaenau Gwent
Mae'r Adain Gyfreithiol, Y Swyddfeydd Cyffredinol, Heol Gwaith Dur,
Glyn Ebwy NP23 6DN
Mae’r Cyngor yn croesawu gohebiarth yn Gymraeg a saesneg a byddwn yn
cyfathrebu gyda chi yn eich dewis iaith, dim ond I chi rhoi gwybod I ni pa
un sydd well gennych. Ni fydd gohebu yn Gymraeg yn creu unrhyw oedi.
The Council welcomes correspondence in Welsh and English and we will
communicate with you in the language of your choice, as long as you let us
know which you prefer. Corresponding in Welsh will not lead to any delay.
* For future reference please can all FOI requests be submitted via the
following link: [1][email address]
and for all general enquiries please contact the Council’s Contact Centre
on: [2][email address] or tel no: 01495311556
If you are unhappy with the handling of your request, you can ask us to
review our response. Requests for reviews should be submitted within 40
days of the date of receipt of our response to your original request –
email: [Blaenau Gwent County Borough Council request email].
If you are unhappy with the outcome of our review, you can write to the
Information Commissioner, who can be contacted at:
Information Commissioner’s Office - Wales
2^nd Floor Churchill House, Churchill Way, Cardiff CF10 2HH
Telephone: 0330 4146421
Email: [3][email address]
The information supplied is provided for private use only and if you wish
to re-use it then you will require the permission of the copyright owner
under the Re-use of Public Sector Information Regulations 2015.
Dear FOI officer,
Thank you for providing the information requested.
Kind regards,
Ludovica Rogers
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