Details of LOBO loan borrowing and brokerage arrangements

J M Benjamin made this Freedom of Information request to Colchester Borough Council

This request has been closed to new correspondence from the public body. Contact us if you think it ought be re-opened.

The request was successful.

Dear Colchester Borough Council,

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

J M Benjamin

Info, Colchester Borough Council

Dear Mr Benjamin

Thank you for your request which has been logged under reference 150612022482.

For full details of the Freedom of Information Act, how a request is dealt with and related information please visit http://www.ico.org.uk .

Yours sincerely
 
Mike Fawcett
Information and Project Officer
Colchester Borough Council
Telephone: 01206 508793
Textphone users dial 18001 followed by the full number that you wish to call.
[email address]
www.colchester.gov.uk/contact
 

show quoted sections

Mike Fawcett, Colchester Borough Council

Dear Mr Benjamin

 

I am now able to respond to your Freedom of Information request logged on
12^th June under reference 150612022482.

 

Please see the table below:

 

Loan principal 2,000,000 2,000,000 1,500,000 5,000,000 4,000,000
Maturity date 18-Jan-46 25-Jan-66 26-Jan-56 24-Jul-76 30-Apr-78
Trade date
when the loan
was signed 18-Jan-06 23-Jan-06 26-Jan-06 24-Jul-06 30-Apr-08
Initial
interest rate 3.790 3.550 3.530 4.150 4.010
Current
stepped-up
interest rate
and step-up 4.500
date where
applicable 3.790 3.550 3.530 24-Jul-09 4.010
Any formula or
structure
determining
the interest
rate where
applicable N/A N/A N/A N/A N/A
The first LOBO
option call
date 18-Jan-16 23-Jan-16 19-Jan-14 24-Jul-09 30-Apr-13
The LOBO
option call
frequency 6 monthly 6 monthly 6 monthly 6 monthly 6 monthly
Day count
convention
used for
calculation of
interest
payments Semi-annual Semi-annual Semi-annual Semi-annual Semi-annual
The original Sterling Sterling Sterling
broker of the Tullett International International International Tullett
loan Prebon Brokers Brokers Brokers Prebon
Broker and fee
paid for any
subsequent
restructuring N/A N/A N/A N/A N/A
The relevant
bank or
financial Dexia
institution(s) Public
which issued Finance Dexia Public Barclays
each LOBO loan Bank Finance Bank Danske Bank Barclays Bank Bank
The name of
the Treasury
Management
Advisor who
advised on
each LOBO loan Capita Treasury Services (formerly Sector Treasury)

 

I trust that this information will meet your needs.  If however you have
any further questions or concerns regarding this request please contact me
again quoting the reference given above.

 

 

Yours sincerely

 

Mike Fawcett

Information and Project Officer

Colchester Borough Council

 

Tel: 01206 508793

Textphone users dial 18001 followed by the full number that you wish to
call.

 

[1][email address]

[2]www.colchester.gov.uk/contact

show quoted sections

Dear Mike Fawcett,

Please provide the information supplied as an Ms Excel file output.

The information as provided is unformatted and illegible.

Yours sincerely,

J M Benjamin

Mike Fawcett, Colchester Borough Council

1 Attachment

Dear Mr Benjamin

 

Thank you for your email.

 

I attach an Excel spread sheet as requested.

 

I trust that this information will meet your needs.  If however you have
any further questions or concerns regarding this request please contact me
again quoting the reference 150612022482.

 

 

Yours sincerely

 

Mike Fawcett

Information and Project Officer

Colchester Borough Council

 

Tel: 01206 508793

Textphone users dial 18001 followed by the full number that you wish to
call.

 

[1][email address]

[2]www.colchester.gov.uk/contact

 

From: Mike Fawcett
Sent: 08 July 2015 11:59
To: J M Benjamin ([FOI #273628 email])
Subject: RE: Freedom of Information request - Details of LOBO loan
borrowing and brokerage arrangements

 

Dear Mr Benjamin

 

I am now able to respond to your Freedom of Information request logged on
12^th June under reference 150612022482.

 

Please see the table below:

 

Loan principal 2,000,000 2,000,000 1,500,000 5,000,000 4,000,000
Maturity date 18-Jan-46 25-Jan-66 26-Jan-56 24-Jul-76 30-Apr-78
Trade date
when the loan
was signed 18-Jan-06 23-Jan-06 26-Jan-06 24-Jul-06 30-Apr-08
Initial
interest rate 3.790 3.550 3.530 4.150 4.010
Current
stepped-up
interest rate
and step-up 4.500
date where
applicable 3.790 3.550 3.530 24-Jul-09 4.010
Any formula or
structure
determining
the interest
rate where
applicable N/A N/A N/A N/A N/A
The first LOBO
option call
date 18-Jan-16 23-Jan-16 19-Jan-14 24-Jul-09 30-Apr-13
The LOBO
option call
frequency 6 monthly 6 monthly 6 monthly 6 monthly 6 monthly
Day count
convention
used for
calculation of
interest
payments Semi-annual Semi-annual Semi-annual Semi-annual Semi-annual
The original Sterling Sterling Sterling
broker of the Tullett International International International Tullett
loan Prebon Brokers Brokers Brokers Prebon
Broker and fee
paid for any
subsequent
restructuring N/A N/A N/A N/A N/A
The relevant
bank or
financial Dexia
institution(s) Public
which issued Finance Dexia Public Barclays
each LOBO loan Bank Finance Bank Danske Bank Barclays Bank Bank
The name of
the Treasury
Management
Advisor who
advised on
each LOBO loan Capita Treasury Services (formerly Sector Treasury)

 

I trust that this information will meet your needs.  If however you have
any further questions or concerns regarding this request please contact me
again quoting the reference given above.

 

 

Yours sincerely

 

Mike Fawcett

Information and Project Officer

Colchester Borough Council

 

Tel: 01206 508793

Textphone users dial 18001 followed by the full number that you wish to
call.

 

[3][email address]

[4]www.colchester.gov.uk/contact

show quoted sections

J M Benjamin left an annotation ()

CAPITA - Tullet Prebon

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