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LOBO loan details for 2015/16 & 2018/19

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Research for Action

Dear Newark and Sherwood District 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

Newark and Sherwood District Council

Dear Sir/Madam,

Your request for information was received by us on 03/May/2019. Our
initial assessment of your request is that the information in question, if
it is held by the council, may fall within the scope of the Freedom of
Information Act 2000. A further assessment will be made once we have
located any relevant information held by the council.

Under the provisions of the Freedom of Information Act 2000, we will
respond to your request promptly, but in any case within 20 working days
following the date that we received it. This means that you will receive a
response from the Council on or before 04/Jun/2019.

For your information, the Act defines a number of exemptions, which may
prevent release of some or all of the information you have requested.
There will be an assessment of the information available and if any of the
exemption categories apply the information may not be released. In the
case of a qualified exemption the Public Interest Test will be considered.
You will be informed if any of the information held is subject to any
exemption and if so reason the exemption has been applied and of your
rights of appeal.

If the information you request contains reference to a third party they
may be consulted prior to a decision being taken on whether or not to
release the information to you. You will be informed if this is the case.

If you have asked for any information to be provided in a specific format
we will do our best to do so. However if it is not practicable or it is
unreasonable to do so, any information will be provided in Adobe Acrobat
pdf.

Should you require the information to be provided other than by email a
fee may be payable in respect of disbursements, you will be informed if
this is the case. In this event the fee must be paid before the
information is processed and released. The 20 working day time limit for
responses is suspended until receipt of the payment.

For a comprehensive guide to your rights under the Freedom of Information
Act and how we will handle your request, you may like to visit our Access
to Information web pages at
[1]www.newark-sherwooddc.gov.uk/yourcouncil/makingarequestforinformation/.

The personal information you have provided to us will only be used to
process your request and the information will be treated in accordance
with the General Data Protection Regulation 2016 and the Data Protection
Act 2018.

If you have any queries or concerns about your request please do not
hesitate to contact me, quoting the reference number given in the subject
line of this email.

Yours sincerely,

Information Governance Team
Newark and Sherwood District Council

Tel: 01636 655216/7

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Newark and Sherwood District Council

11 Attachments

Dear Sir/Madam,

Your request for information received by us on 03/May/2019 has now been
considered and the council's response attached hereto.

If you have any queries or concerns about your request, or any
difficulties with any attachments please do not hesitate to contact me,
quoting the reference number shown in the subject line of this email.

Yours sincerely,

Information Governance Team
Newark and Sherwood District Council

Tel: 01636 655216/7

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References

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