2020/21 Update on LOBO loans

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

Research for Action

Dear Caerphilly 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 4 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.

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. 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.

For all the loans that have been cancelled, refinanced or restructured, including cases when the options were 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

B. 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: 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 2002/03 to 2020/21 indicating for each 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

WWW: FOI, Caerphilly County Borough Council

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Thank you for your recent FOI / EIR request.  Please find attached an
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Research for Action

Dear FOI officer,
I should have received a response to my FOI request by 16 June 2021.
Could you kindly provide the information requested as soon as possible?
Kind regards,
Ludovica Rogers

Research for Action

Dear FOI Officer,
I should have received a response to my FOI request by 16 June 2021.
Could you kindly update me on the status of my request?
Kind regards,
Ludovica Rogers

Research for Action

Dear FOI officer,
The response to my FOI request is delayed. I should have received it by 16 June 2021.
The reference number is CIGU/21/0545
You can find our correspondence recorded here: https://www.whatdotheyknow.com/request/2...
Please could you update me on the status of my response as soon as possible.
Kind regards,
Ludovica Rogers

Research for Action

Dear FOI officer,
The response to my FOI request is delayed. I should have received it by 16 June 2021.
The reference number is CIGU/21/0545
You can find our correspondence recorded here: https://www.whatdotheyknow.com/request/2...
Please could you update me on the status of my response as soon as possible.
Kind regards,
Ludovica Rogers