Details of LOBO borrowing and brokerage arrangements

Aleksi Knuutila made this Freedom of Information request to Sheffield City Council

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Dear Sheffield City Council,

For each of the Lender Option, Borrower option (LOBO) loans Sheffield City Council currently has on its books, and for any historical LOBO loans, please provide:

1) Loan principal?
2) Maturity date?
3) Trade date when the loan was signed?
4) Initial interest rate?
5) Current stepped-up interest rate and step-up date where applicable?
6) Any formula or structure determining the interest rate where applicable?
7) The first LOBO option call date?
8) The LOBO option call frequency?
9) Day count convention used for calculation of interest payments?
10) The original broker of the loan and fee paid?
11) Broker and fee paid for any subsequent restructuring?
12) The relevant bank or financial institution(s) which issued each LOBO loan?
13) The name of the Treasury Management Advisor who advised on each LOBO loan
14) Where available, the original unredacted LOBO loan contracts.

Many thanks.

Yours faithfully,

Aleksi Knuutila

FOI, Sheffield City Council

Re – Freedom of Information Request – Reference – FOI / 3508
 
Dear Aleksi Knuutila,
 
Thank you for your recent request for information relating to LOBO (Lender
Option Borrower Option) Loan Information which we received on 14/02/2017.
 
This has been logged as a Freedom of Information Request, and will be
dealt with under the Freedom of Information Act.  The reference number for
your request can be found above.
 
The Freedom of Information Act states that we must respond to you within
20 working days, therefore, you should expect to hear a response from us
by 14/03/2017.
 
In the meantime, if you have any queries please contact us on the number
below.
 
Thank you.
 
Yours sincerely,
 
Resources Business Support
Moorfoot Level 8 West Wing
Sheffield S1 4PL
Tel : 0114 20 53478
E-mail : [1][Sheffield City Council request email]
? Please don't print this e-mail unless you really need to
 
 
 
_____________________________________________
From: Aleksi Knuutila
[[2]mailto:[FOI #389645 email]]
Sent: 14 February 2017 09:01
To: FOI
Subject: Freedom of Information request - Details of LOBO borrowing and
brokerage arrangements
 
Dear Sheffield City Council,
 
For each of the Lender Option, Borrower option (LOBO) loans Sheffield City
Council currently has on its books, and for any historical LOBO loans,
please provide:
 
1) Loan principal?
2) Maturity date?
3) Trade date when the loan was signed?
4) Initial interest rate?
5) Current stepped-up interest rate and step-up date where applicable?
6) Any formula or structure determining the interest rate where
applicable?
7) The first LOBO option call date?
8) The LOBO option call frequency?
9) Day count convention used for calculation of interest payments?
10) The original broker of the loan and fee paid?
11) Broker and fee paid for any subsequent restructuring?
12) The relevant bank or financial institution(s) which issued each LOBO
loan?
13) The name of the Treasury Management Advisor who advised on each LOBO
loan
14) Where available, the original unredacted LOBO loan contracts.
 
Many thanks.
 
Yours faithfully,
 
Aleksi Knuutila
 
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FOI, Sheffield City Council

Re – Freedom of Information Request – Reference – FOI / 3508
 
Dear Aleksi Knuutila,
 
Thank you for your recent request for information relating to LOBO (Lender
Option Borrower Option) Loan Information which we received on 14/02/2017.
 
Please find below, Sheffield City Council’s response to your request:
 
Details of the LOBO loans in place in the Council have previously been
disclosed in our response available at:
[1]https://www.whatdotheyknow.com/request/l...
the responses to this request and associated documentation can be found in
this response and associated attachments. As this information is
accessible by other means it is exempt from disclosure under Section 21(1)
of the Freedom of Information Act 2000.
 
This documentation does not confirm the basis on which interest is
calculated; which is ACT/365 in all cases.
 
The previous response and associated correspondence includes a refusal
notice for the supply of full unredacted copies of the relevant LOBO
agreements which we have previously refused to provide under Section 43 of
the Freedom of Information Action 2000. This decision stands and we
consider the public interest to continue to fall in favour of the
exemption of the full copies of these agreements.
 
I hope the information we have provided is of help to your enquiries.  If
you have any queries about this response, please do not hesitate to
contact us.
 
If you are unhappy with the response you have received in relation to your
request, you are entitled to have this reviewed.  You can ask for an
internal review by either writing to the above address or by emailing
[2][Sheffield City Council request email].
 
If you remain dissatisfied with the outcome of your internal review, you
can contact the Information Commissioners Office. The Information
Commissioner can be contacted at: The Information Commissioner's Office,
Wycliffe House, Water Lane, Wilmslow, Cheshire SK9 5AF, telephone 0303 123
1113, or for further details see their website [3]www.ico.org.uk
 
Kind Regards,
 
Resources Business Support
Moorfoot Level 8 West Wing
Sheffield S1 4PL
Tel : 0114 20 53478
E-mail : [4]FOI @sheffield.gov.uk
? Please don't print this e-mail unless you really need to
 
 
_____________________________________________

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