Dear Kent County 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
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
Our reference: 6393665
Dear Ms Rogers,
Freedom of Information Act 2000
Thank you for your email which we received on 3 May 2019.
Kent County Council acknowledges your request for information under
the Freedom of Information Act 2000. Assuming KCC holds this information,
we will endeavour to supply the data to you as soon as possible but no
later than 4 June 2019 (20 working days from date of receipt).
We will advise you as soon as possible if we do not hold this information
or if there are exemptions to be considered and/or any costs for providing
Please quote our reference - 6393665 in any communication regarding this
Please see our Information Rights Privacy Notice for details of how we
process your personal data.
Information Access Officer
Strategic and Corporate Services
NOTE: Please do not edit the subject line when replying to this email.
Freedom of Information Act 2000
Thank you for your request for information made under the Freedom of
Information Act (FOIA) 2000, relating to LOBO Loans. Please see the
response provided below:
As requested, please see attached a schedule containing the information
requested where applicable. Note information for 2018/19 is not yet
available. Also the interest rates on the loans have not changed since the
start and no options have been exercised. All the Barclays loans were
converted to fixed rate loans in 2016.
The attached folder containing copies of LOBO contracts only refers to
Barclays loans as details of the other LOBO loans were provided to the
enquirer in response to FOI 16 2107 T.
We are unable to provide copies of brokerage invoices given the lapse of
time since they were paid.
If you are unhappy with this response, and believe KCC has not complied
with legislation, you have 40 working days from the date of this response
to ask for a review. You can do this by following our complaints process;
details can be found at this link
on our website. Please quote reference 6393665.
If you remain dissatisfied following an internal review, you can appeal to
the Information Commissioner, who oversees compliance with the Freedom of
Information Act 2000. Details of what you need to do, should you wish to
pursue this course of action, are available from the Information
Commissioner’s website http://ico.org.uk/concerns
Kelly Leeson | Information Access Officer | Information Resilience &
Transparency Team | Kent County Council | Room 2.87, Sessions House,
Maidstone, ME14 1XQ | Phone 03000 415985 | Fax 03000 420303 | Access to
Information | Please see our Information Rights Privacy Notice for details
of how we process your personal data in line with our data protection