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LOBO loan details for 2015/16 & 2018/19

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Research for Action

Dear Dumfries and Galloway 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

Dumfries and Galloway Council

FREEDOM OF INFORMATION (SCOTLAND) ACT 2002

Thank you for your request for information which was received on 03/05/2019 which we are dealing with in terms of the above legislation. We have given your request the unique reference 409074 and we would appreciate it if you could quote this on all correspondence to us.

Under the terms of the legislation, we have an obligation to respond to your request within 20 working days from the day after your request was received. We will therefore aim to respond to your request by 03/06/2019.

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Kind Regards

FOI Unit
Dumfries and Galloway Council

FOI Responses, Dumfries and Galloway Council

2 Attachments

Please find below the Council's response to your request 409074 which was received on 03/05/2019.

Details of request: 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

Response:

Agreements and spreadsheet are attached

Please be aware that the Council holds the copyright, where applicable, for the information provided and it may be reproduced free of charge in any format or media without requiring specific permission. This is subject to the material not being used in a misleading context. The source of the material must be acknowledged as Dumfries and Galloway Council and the title of the document must be included when being reproduced as part of another publication or service.

If you require any further clarification, please contact us. However, if you are not satisfied with the way in which your request has been dealt with, you can request us to carry out an internal review of the decision by emailing [email address] or writing to us within 40 working days of receiving this response.

If you are dissatisfied with the outcome of the review, you have the right to apply to the Scottish Information Commissioner for a decision. Appeals to the Commissioner can be made online at https://eur03.safelinks.protection.outlo... or in writing to: The Office of the Scottish Information Commissioner, Kinburn Castle, Doubledykes Road, St Andrews, Fife, KY16 9DS.

Kind Regards

FOI Unit
Dumfries and Galloway Council

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