RBS LOBO loans

Research for Action made this Freedom of Information request to Derby City Council

This request has been closed to new correspondence from the public body. Contact us if you think it ought be re-opened.

The request was successful.

Research for Action

Dear Derby City Council,

According to a previous FOI request in 2015 the council held two LOBO loans from RBS: https://www.whatdotheyknow.com/request/l...

A. For the loans please provide a spreadsheet with the following information (a row for each loan and each parameter listed in a separate column):
1. Internal reference number
2. Principal of the loan
3. Initial counter-party of the loan
4. Drawdown date of the loan
5. Maturity date of the loan
6. Name of the Treasury Management Advisor when the loan was taken out
7. Name of the broker that arranged the loan
8. Fee paid to the broker
9. Fairvalue of the loan in 2015/16
10. Fairvalue of the loan in 2018/19
11. Counterparty of the loan in 2018/19
12. Was the loan restructured/refinance since 2015? (Yes, No)
13. How was the loan restructured/refinanced? (i.e. loan was transformed into fixed-rate loan by removing the option, or loan was repaid with a new bank loan, or with a PWLB loan, or other - please specify)
14. Date when the loan was restructured/refinanced
15. Breakage cost or fee paid to the counter-party for the refinancing/restructuring
16. Name of any third-party advisor used for the restructuring/refinancing
17. Fee paid to the advisor for the restructuring/refinancing
18. Name of broker who arranged the restructuring/refinancing
19. Fee paid to the broker for the restructuring/refinancing

B. If the loan was repaid with PWLB debt or a new bank loan, please provide the following information:
1. Principal of new PWLB or bank loan
2. Maturity date of new PWLB or bank loan
3. Interest rate of new PWLB or bank loan
4. Fair value of new PWLB or bank loan

C. Please provide copies of any official documents related to the restructuring/refinancing

D. Please provide invoices for the broker fees for:
- the initial loans
- the restructuring/refinancing

Yours faithfully,

Research for Action

FOI, Derby City Council

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Freedom of Information Team | Information Governance | Corporate
Resources | Derby City Council, The Council House, Corporation Street,
Derby DE1 2FS | Telephone 01332 640763 | Minicom 01332 640666 | Web:
[1]www.derby.gov.uk

 

 

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FOI, Derby City Council

Dear Research for Action,

 

Thank you for your request received 14/10/19 under the Freedom of
Information  Act 2000 (FOIA) for ‘RBS LOBO loans’.

 

The Council is considering your request and although the Act says we
should disclose information, it also provides exemptions we can use to
withhold information in specific circumstances. 

 

Some of these exemptions, referred to as ‘qualified exemptions’, are
subject to a public interest test.  This test is used to balance the
public interest in disclosure against the public interest in favour of
withholding the information.

 

In these circumstances the Act allows us to extend the response deadline
by 20 working days to consider the public interest test. 

 

The qualified exemptions applied to your request are …

 

Section 43(2): Commercial data

 

Section 40(2) Personal data third party

 

This exemption applies to the financial information and the names of third
parties in the loan agreement because the information is considered to be
commercially sensitive and/or third party personal data. 

 

We have extended the 20 working day response period and will let you have
a full response by 9/12/19 or earlier if possible.

 

You can ask for our decision to be reviewed under the Council’s FOI
Complaints Procedure.  Please send your appeal reasons within 40 working
days to the …

 

Freedom of Information Officer
Derby City Council
The Council House
Corporation Street
Derby
DE1 2FS

Telephone 01332 640763 or e-mail [1][Derby City Council request email]

 

Further information about Freedom of Information is available from the
Information Commissioner at:

 

Information Commissioner's Office
Wycliffe House
Water Lane
Wilmslow
Cheshire
SK9 5AF 
Telephone:   01625 545 700

[2]www.ico.org.uk

 

 

Yours sincerely,

 

Freedom of Information Team | Corporate Resources Directorate | Derby City
Council | The Council House| Corporation Street |Derby | DE1 2FS
|Tel: [3]+44 (0) 1332 640763 | minicom number: [4]+44 (0) 1332
256666 | [5]www.derby.gov.uk

 

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[6]We Are Bold. We Are Strong. We Care. Great People; One Team.

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To view Derby City Council Privacy Notices please visit
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FOI, Derby City Council

4 Attachments

Dear Research for Action,

 

The Council confirms it holds information that falls within the
description of your request.  However, part of the information is covered
by an exemption under Freedom of Information Act 2000.  We have attached
part of the information and this email is a part Refusal Notice.

The exemption applied are …

 

Section 43(2) commercial data –see attached response for more information.

 

Section 40(2) Personal data third party – see attached response for more
information.

 

For your information this request has cost the Council £100. 00 to
process.

 

You can ask for the decision not to disclose some of the information to be
reviewed under the Council’s FOI Complaints Procedure.  Please send your
appeal reasons within 40 working days to the …

 

Information Governance Officer (FOI)
Derby City Council
The Council House
Corporation Street
Derby
DE1 2FS

Telephone 01332 640763 or e-mail [1][Derby City Council request email]

You may also apply to the Information Commissioner for a decision under
section 50 of the Act but he may decline to deal with your application if
you have not followed the Council’s complaints procedure first.

 

Information Commissioner's Office
Wycliffe House
Water Lane
Wilmslow
Cheshire
SK9 5AF 
Telephone:   01625 545 700
[2]www.ico.org.uk

 

Please note, the following applies, if the response includes council
officers (or other officers) names.

If you are a company that intends to use the names and contact details of
council officers (or other officers) provided for direct marketing, you
need to be registered with the Information Commissioner to process
personal data for this purpose. You must also check that the individual
(whom you wish to contact for direct marketing purposes) is not registered
with one of the Preference Services to prevent Direct Marketing. If they
are you must adhere to this preference. You must also ensure you comply
with the Privacy Electronic and Communications Regulations (PECR). For
more information follow this Link [3]www.ico.org.uk

 

For the avoidance of doubt the provision of council (and other) officer
names and contact details under FOI does not give consent to receive
direct marketing via any media and expressly does not constitute a ‘soft
opt-in’ under PECR.

 

Yours sincerely,

 

Freedom of Information Team | Corporate Resources Directorate | Derby City
Council | The Council House| Corporation Street |Derby | DE1 2FS
|Tel: [4]+44 (0) 1332 640763 | minicom number: [5]+44 (0) 1332
256666 | [6]www.derby.gov.uk

Proud of Derby

 

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[7]We Are Bold. We Are Strong. We Care. Great People; One Team.

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To view Derby City Council Privacy Notices please visit
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8. https://www.derby.gov.uk/privacy-notice/