2022 Accounts information

Catarina Gomes made this Freedom of Information request to University of Kent Automatic anti-spam measures are in place for this older request. Please let us know if a further response is expected or if you are having trouble responding.

The request was partially successful.

Dear University of Kent,

I am writing to you under the Freedom of Information Act to request the following information in relation to your loan arrangements and debt covenants. In doing so I note that this information is disclosed by a number of other higher education institutions, but not by yourselves:

(1) The names of the largest three external lenders as at 31 July 2022;

(2) Details of any covenants attached to loans with these lenders;

(3) If the University holds a revolving credit facility, the interest rate and any covenants attached to the facility;

Yours faithfully,

Catarina Gomes

Foi, University of Kent

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Dear Catarina Gomes,

Thank you for your Information Request. We will provide a response within
20 working days.

Kind regards,

Imre Lazar

 

Freedom of Information Team

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[10]kent.ac.uk | [11][University of Kent request email]

 

 

 

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Foi, University of Kent

10 Attachments

Dear Catarina Gomes,

Thank you for your information request, received on 26/7/23 and sorry for
the slight delay. Please find our response as follows:

I am writing to you under the Freedom of Information Act to request the
following information in relation to your loan arrangements and debt
covenants. In doing so I note that this information is disclosed by a
number of other higher education institutions, but not by yourselves:

 

(1) The names of the largest three external lenders as at 31 July 2022;

 

This information is not provided under Section 21 (reasonably accessible)
of the Freedom of Information Act, because the information is publicly
available on the University’s website:
[1]https://www.kent.ac.uk/finance/financial..., with the requested
year at the top:
[2]https://media.www.kent.ac.uk/se/34175/Fi...
(please see section 18 “Creditors: amounts falling after more than one
year” on page 47).

 

(2) Details of any covenants attached to loans with these lenders;

 

This information is withheld under Section 43(2) (Commercial interests) of
the Freedom of Information Act. This is because disclosing this
information would be likely to prejudice the University’s commercial
interests during our ongoing discussion with lenders.

 

The Section 43 exemptions are qualified exemptions, subject to the public
interest test.

 

There is a public interest in how the University spends public
money. Balanced against this is the commercial detriment caused by
disclosing contractual information that would prejudice or harm the
commercial interests of the University in current and subsequent
negotiations with lenders. It is in the public interest that the
University achieves competitive conditions from lenders to ensure we spend
public funds wisely.

 

The result of the public interest test is to withhold this information.

 

 

(3) If the University holds a revolving credit facility, the interest rate
and any covenants attached to the facility;

 

Currently we do not hold a revolving credit facility.

 If you are unhappy with the way your request for information has been
handled, you can request an internal review within two months of the date
of this email by writing to: FOI team, Directorate of Governance &
Assurance, The Registry, University of Kent, Canterbury, CT2 7NZ or via
email to: [3][University of Kent request email]

If you remain dissatisfied with the handling of your request or complaint,
you have a right to appeal to the Information Commissioner’s Office (ICO).
The primary way to escalate your concerns to the ICO is via their website:
[4]www.ico.org.uk/foicomplaints. Alternatively, you can contact the ICO
via telephone: 0303 123 1113, or by post: Information Commissioner's
Office, Wycliffe House, Water Lane, Wilmslow, Cheshire, SK9 5AF.

There is no charge for making an appeal.

 

Yours sincerely

 

 

Freedom of Information Team

  [5]University of Kent logo

Governance and Assurance

 [6]design element 

University of Kent, The Registry, [16]design
Canterbury, Kent CT2 7NZ element

We stand for ambition.

[7]Line design

   
[8]social [9]social [10]social [11]social [12]social [13]social
media media media media media media
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[14]kent.ac.uk | [15][University of Kent request email]

 

 

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