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LOBO loan details for 2015/16 & 2018/19

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Research for Action

Dear Stoke on Trent City 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

FOI, Stoke on Trent City Council

Dear Ludovica Rogers

 

Your request for information ref. SOT78529

 

Thank you for your request for information about LOBO loans held by the
council in 2015/16 financial year.  Your request was received by the
Information Rights Team on 03 May 2019.  This is being dealt with under
the terms of the appropriate Information Rights legislation.

 

In some circumstances we may charge for information.  If there is a charge
we will let you know, as you will have to pay it before we deal with your
request.

 

Some information does not have to be released under this legislation.  We
will check the information you have asked for and send you as much as
possible.  If another person or organisation is named in the information,
we may have to ask their opinion before we decide what we can give you.

 

You should expect to receive a response to your request on or before 04
June 2019 in line with the legislation's 20 working day statutory
deadline.

 

For your information we may publish the response to your request on our
City Council's website, which can be found at the following address:
[1]www.stoke.gov.uk.

 

If you have any queries about this email please do not hesitate to contact
us.

 

You can find details of how we handle your personal information by
visiting [2]www.stoke.gov.uk/dataprotection

 

Yours sincerely

 

Information Rights Team

 

Information Rights

Floor 2 Civic Centre Glebe Street

Stoke-on-Trent ST4 1HH

City of Stoke-on-Trent 

t 01782 232853, 01782 233020, 01782 233732, 01782 235965

e [3][Stoke on Trent City Council request email]

 

 

 

 

 

Being a foster carer is truly life changing. If you have a spare room and
spare time, even as little as one weekend a month, you can make a real
difference to a child’s life.

Fostering for Stoke-on-Trent City Council offers a rewarding career with
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Manage your council tax online and sign up for paperless billing with our
new online account at [5]www.stoke.gov.uk/onlineaccount - and access it
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[7]Google Play

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References

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1. http://www.stoke.gov.uk/
2. http://www.stoke.gov.uk/dataprotection
3. mailto:[Stoke on Trent City Council request email]
4. https://www.stoke.gov.uk/info/20044/fost...
5. http://www.stoke.gov.uk/onlineaccount
6. https://itunes.apple.com/us/app/my-stoke...
7. https://play.google.com/store/apps/detai...

FOI, Stoke on Trent City Council

2 Attachments

Dear Ludovica Rogers

 

Your request for information ref. SOT78529 about LOBO loans held by the
council in 2015/16 financial year

 

We have now considered your request and a copy of the information is below
and attached.

 

Please note, some of the information is exempt under section 40 of the Act
(personal data) and cannot be provided.  This exemption has been applied
to individual names contained within the attached documents.

 

The information supplied may be used for domestic or journalistic
purposes.  Its use for commercial gain including issuing to the public,
social media or computer blogs may be subject to the issue of a licence
under the Reuse of Public Sector Information Regulations 2015.

 

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.  Response: See table below for
details.

2.       Principal.  Response: See table below for details.

3.       Initial counterparty.  Response: See table below for details.

4.       Date loan was signed.  Response: Date accepted and letter dated
23/11/2005.

5.       Drawdown date.  Response: See table below for details.

6.       Maturity date.  Response: See table below for details.

7.       Option period (number of months).  Response: Not applicable.

8.       Start date for teaser rate (if applicable).  Response: Not
applicable.

9.       Teaser interest rate (if applicable - intended as the discount
rate sometimes offered before the initial rate).  Response: Not
applicable.

10.     Start date for initial rate.  Response: 03/10/2006

11.     Initial interest rate (intended as the rate set for the term of
the loan until the first option is called).  Response: 3.84%

12.     First option date.  Response: April 2016

13.     Has the option been exercised?  Response: No

14.     Most recent date when option was exercised (if applicable). 
Response: Not applicable.

15.     Interest rate in 2015/16.  Response: This information is included
in the Statement of Accounts for 2015/16 – note 12.09e. This can be
accessed by clicking the following link [1]Statement of Accounts 2015-16

16.     Interest paid in 2015/16.  Response: £764k

17.     Fair value in March 2016.  Response: This information is included
in the Statement of Accounts for 2015/16 – note 12.09c. This can be
accessed by clicking the following link [2]Statement of Accounts 2015-16

18.     Interest rate in 2018/19.  Response: This information is included
in the Statement of Accounts for 2018/19 – note 4.2.14e. This can be
accessed by clicking the following link [3]Accounts

19.     Interest paid in 2018/19.  Response: £768k

20.     Fair value in March 2019.  Response: This information is included
in the Statement of Accounts for 2018/19 – note 4.2.14c. This can be
accessed by clicking the following link [4]Accounts

21.     Current counterparty.  Response: See table below for details.

22.     Name of treasury management advisor when the loan was taken out. 
Response: Sector.

23.     Name of broker who arranged the loan.  Response: Prebon Marshall
Yamane (UK) Ltd £10m / Tradition (UK) Ltd £10m

24.     Fee paid to the broker for the loan.  Response: Not applicable.

 

Original Total
Loan principal
Amount Original left on Restructured/
Lender Internal Principal Date Loan Repayment Interest the loan
Name Ref (£) Agreed Period Rate (%) (£) Refinanced
Dexia
Credit
Local 50023729 10,000,000 03/04/2006 60 years 3.84 10,000,000 No
Dexia
Credit
Local 50023699 10,000,000 03/04/2006 60 years 3.84 10,000,000 No

B. Please provide copies of:

 

1. The original LOBO loan contracts.  Response:  See attached

2. The invoices for the broker fees.  Response: Not applicable.

 

If you are unhappy with the service you have received in relation to your
request and wish to make a complaint or request a review of our decision,
you should write to: The Information Rights Manager, Information Rights
Team, Stoke-on-Trent City Council, Floor 2, Civic Centre, Glebe Street,
ST4 1HH, or email [5][Stoke on Trent City Council request email].

 

If, after contacting us, you are not content with the outcome, you may ask
the Information Commissioner for a decision.  Before doing this, please
see the following link for guidance from the Information Commissioner
relating to how to use your information rights responsibly and
effectively, to enable you to gain the best outcome from the process -
[6]http://ico.org.uk/for_the_public.

 

Generally, the Information Commissioner cannot make a decision unless you
have already used our internal review procedure. The Information
Commissioner can be contacted at: The Information Commissioner’s Office,
Wycliffe House, Water Lane, Wilmslow, Cheshire, SK9 5AF, tel: 0303 123
1113 or you can visit their website at
[7]https://ico.org.uk/make-a-complaint/

 

You can find details of how we handle your personal information by
visiting [8]www.stoke.gov.uk/dataprotection

Yours sincerely

 

Information Rights Team

 

Information Rights

City of Stoke-on-Trent

Floor 2  Civic Centre  Glebe Street  Stoke-on-Trent  ST4 1HH

T: 01782 232853, 01782 233020, 01782 233732, 01782 235965

E: [9][Stoke on Trent City Council request email]

 

 

+------------------------------------------------------------------------+
|  |
| |
|Dear Stoke on Trent City 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 |
| |
|  |
+------------------------------------------------------------------------+

 

 

 

Being a foster carer is truly life changing. If you have a spare room and
spare time, even as little as one weekend a month, you can make a real
difference to a child’s life.

Fostering for Stoke-on-Trent City Council offers a rewarding career with
comprehensive training and guidance. [10]Click here for more information.

Manage your council tax online and sign up for paperless billing with our
new online account at [11]www.stoke.gov.uk/onlineaccount - and access it
using the MyStoke app, putting fly-tipping, and litter reporting in your
hands at the touch of a button. Available in the [12]App Store and on
[13]Google Play

show quoted sections

 

References

Visible links
1. https://www.stoke.gov.uk/directory_recor...
2. https://www.stoke.gov.uk/directory_recor...
3. https://www.stoke.gov.uk/directory/27/da...
4. https://www.stoke.gov.uk/directory/27/da...
5. mailto:[Stoke on Trent City Council request email]
6. http://ico.org.uk/for_the_public
7. https://ico.org.uk/make-a-complaint/
8. http://www.stoke.gov.uk/dataprotection
9. mailto:[Stoke on Trent City Council request email]
10. https://www.stoke.gov.uk/info/20044/fost...
11. http://www.stoke.gov.uk/onlineaccount
12. https://itunes.apple.com/us/app/my-stoke...
13. https://play.google.com/store/apps/detai...

We don't know whether the most recent response to this request contains information or not – if you are Research for Action please sign in and let everyone know.