Restructuring of LOBO loans

Response to this request is long overdue. By law, under all circumstances, Kent County Council should have responded by now (details). You can complain by requesting an internal review.

Research for Action

Dear Kent County Council,

A. How many LOBO loans (number of loans and total principal) has the council restructured, refinanced or for which the terms of the contracts have changed since 2015.

B. For such 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 original LOBO loan
3. Initial counter-party of the original LOBO loan
4. Drawdown date of the original LOBO loan
5. Maturity date of the original LOBO loan
6. Date when the LOBO loan was restructured/refinanced
7. Breakage cost or fee paid to the counter-party for the refinancing/restructuring
8. 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)
9. Principal of new PWLB or bank loan used to refinance the LOBO loan (if applicable)
10. Maturity date of new PWLB or bank loan used to refinance the LOBO loan (if applicable)
11. Interest rate of new PWLB or bank loan used to refinance the LOBO loan (if applicable)
12. Fair value of new PWLB or bank loan used to refinance the LOBO loan (if applicable)
13. Name of any third-party advisor used for the restructuring/refinancing
14. Fee paid to the advisor for the restructuring/refinancing
15. Name of broker who arranged the restructuring/refinancing
16. Fee paid to the broker for the restructuring/refinancing

C. Please provide copies of new contracts and any other official documents related to the restructuring/refinancing

D. Please provide invoices for the broker fees for the restructuring/refinancing

Yours faithfully,

Ludovica Rogers

 

Information request
Our reference: 5635972

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Dear Sir or Madam, 
 
Freedom of Information Act 2000
 
Thank you for your email which we received on 18 March 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 15 April 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
the information.
 
Please quote our reference - 5635972 in any communication regarding this
particular request.
 

Please see our [1]Information Rights Privacy Notice for details of how we
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Yours faithfully
 
 
Carly Wattle
Information Access Officer
Strategic and Corporate Services
+443000417061
 
NOTE: Please do not edit the subject line when replying to this email.

References

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4 Attachments

 

Information request
Our reference: 5635972

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Dear Sir or Madam
 
Thank you for your request for information received on 18 March 2019.
 
Please find attached our response to your request.
 
Yours faithfully
 
 
Carly Wattle
Information Access Officer
Strategic and Corporate Services
+443000417061
[email address]
 
NOTE: Please do not edit the subject line when replying to this email.

Research for Action

Dear Kent County Council,
Thank you for your response to my FOI request.
Could you kindly also provide the following as requested in point C of my FOI request:
- Deed Poll for the removal of the option for the Barclays loans
- document indicating the removal of the option for the RBS loan.
kind regards,
Ludovica Rogers

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