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LOBO loan details for 2015/16 & 2018/19

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Research for Action

Dear Blackburn with Darwen Borough Council,

A. Please provide a spreadsheet in .xls format containing the following information for each of the LOBO loans you held in the 2015/16 financial year (please use a row for each loan and a column for each parameter indicated below):
1. Internal reference number
2. Principal
3. Initial counterparty
4. Date loan was signed
5. Drawdown date
6. Maturity date
7. Option period (number of months)
8. Start date for teaser rate (if applicable)
9. Teaser interest rate (if applicable - intended as the discount rate sometimes offered before the initial rate)
10. Start date for initial rate
11. Initial interest rate (intended as the rate set for the term of the loan until the first option is called)
12. First option date
13. Has the option been exercised?
14. Most recent date when option was exercised (if applicable)
15. Interest rate in 2015/16
16. Interest paid in 2015/16
17. Fair value in March 2016
18. Interest rate in 2018/19
19. Interest paid in 2018/19
20. Fair value in March 2019
21. Current counterparty
22. Name of treasury management advisor when the loan was taken out
23. Name of broker who arranged the loan
24. Fee paid to the broker for the loan

B. Please provide copies of:
1. The original LOBO loan contracts
2. The invoices for the broker fees

Kind regards,

Ludovica Rogers

Accesstoinformation, Blackburn with Darwen Borough Council

Dear Ludovica,

Thank you for your request for information regarding ‘LOBO Loans’ (reference number 04601). Your request was received on the 03/5/2019 and I am dealing with it under the terms of the Freedom of Information Act 2000 and/or Environmental Information Regulations 2004.

In some circumstances a fee may be payable and if that is the case, I will let you know. A fees notice will be issued to you, and you will be required to pay before we will proceed to deal with your request.

If you have any queries about this request, please contact Information Governance on 01254 585852. Alternatively, our email address is [Blackburn with Darwen Borough Council request email]

Please remember to quote the reference number above in any future communications.

Kind Regards,

Heather Wolstenholme
Information Governance Officer
Email: [email address]
Tel: 01254 585651

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Accesstoinformation, Blackburn with Darwen Borough Council

2 Attachments

Dear Ludovica,

Thank you for your request for information regarding 'LOBO Loans' (reference number 04601); Please see our response attached/below. If you have any queries regarding your request for information then please don't hesitate to contact us

Unfortunately we are unable to locate either the original LOBO loan contracts or broker fee invoices requested.

If you are unhappy with the service you have received in relation to your request for information and wish to make a complaint or request a review of our decision, you should write to: Information Governance Manager, Information Governance, Blackburn with Darwen Borough Council, G Floor, Town Hall, Blackburn, Lancashire, BB1 7DY or email [Blackburn with Darwen Borough Council request email]

If you are not content with the outcome of your complaint, you may apply directly to the Information Commissioner for a decision. Generally, the ICO cannot make a decision unless you have exhausted the complaints procedure provided by the Council. The Information Commissioner can be contacted at: The Information Commissioner's Office, Wycliffe House, Water Lane, Wilmslow, Cheshire SK9 5AF. 
 
Please find attached our 'have your say' feedback policy. 

Kind Regards,

Heather Wolstenholme
Information Governance Officer
Email: [email address]
01254 222527

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