Details of LOBO loan borrowing and brokerage arrangements

Joel M Benjamin made this Freedom of Information request to Blackpool Borough Council

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Joel M Benjamin

Dear Blackpool Borough Council,

For each of the Lender Option, Borrower option (LOBO) loans Blackpool
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.

Yours faithfully,

Joel M Benjamin

Customer First, Blackpool Borough Council

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Ian Barnes, Blackpool Borough Council

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Please find attached our reply.

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Joel M Benjamin left an annotation ()

Did not provide TMA details. Variety of brokers. Dealt direct with DEPFA on several LOBOs