Restructuring of LOBO loans

The request was successful.

Research for Action

Dear Mid Suffolk District 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

BMSDC Data Protection,

Dear Madam,

Freedom of Information/Environmental Information Regulations request

Thank you for your request to Mid Suffolk District Council dated 18 March 2019. Your request will be answered within 20 working days.

If you have any queries about this request do not hesitate to contact us. Please remember to quote the reference number above in any future communications.

Yours sincerely,

Data Protection
Tel: 0300 1234000 Email: [email address]
www.babergh.gov.uk www.midsuffolk.gov.uk
Babergh & Mid Suffolk District Councils - Working Together
Endeavour House, 8 Russell Road, Ipswich, Suffolk IP1 2BX

show quoted sections

BMSDC Data Protection,

Dear Ludovica Rogers,
 
We refer to your recent request for information.
 
Request:
 
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
 
Response:
 
A. No LOBOs have been restructured since 2015.
B. N/A
C. N/A
D. N/A
 
The information supplied to you continues to be protected by the
Copyright, Designs and Patents Act 1988. You are free to use it for your
own purposes, including any non-commercial research you are doing and for
the purposes of news reporting.  Please contact us if you wish to re-use
the information for commercial purposes so that the appropriate licence
can be issued (in some instances a fee will be payable).  Additionally,
you must ensure that you gain permission before reproducing any third
party (non Babergh/Mid Suffolk District Council copyright) information.
 
If you are unhappy with this response you may request an internal review
of this matter via the Council’s corporate complaints procedure.  If you
are not content with the outcome of the review you have a right of appeal
to the Information Commissioner at the following address: Information
Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow, Cheshire SK9
5AF. Tel: 01625 545 745 Email: [email address].
 
Yours sincerely,
 
Data Protection
Tel: 0300 1234000
Email: [email address]
[1]www.babergh.gov.uk  [2]www.midsuffolk.gov.uk
Babergh & Mid Suffolk District Councils - Working Together
Endeavour House, 8 Russell Road, Ipswich IP1 2BX
 
 
Emails sent to and from this organisation will be monitored in accordance
with the law to ensure compliance with policies and to minimize any
security risks. The information contained in this email or any of its
attachments may be privileged or confidential and is intended for the
exclusive use of the addressee. Any unauthorised use may be unlawful. If
you receive this email by mistake, please advise the sender immediately by
using the reply facility in your email software. Opinions, conclusions and
other information in this email that do not relate to the official
business of Babergh District Council and/or Mid Suffolk District Council
shall be understood as neither given nor endorsed by Babergh District
Council and/or Mid Suffolk District Council.

Babergh District Council and Mid Suffolk District Council (BMSDC) will be
Data Controllers of the information you are providing. As required by the
Data Protection Act 2018 the information will be kept safe, secure,
processed and only shared for those purposes or where it is allowed by
law. In some circumstances however we may need to disclose your personal
details to a third party so that they can provide a service you have
requested, or fulfil a request for information. Any information about you
that we pass to a third party will be held securely by that party, in
accordance with the Data Protection Act 2018 and used only to provide the
services or information you have requested.
For more information on how we do this and your rights in regards to your
personal information and how to access it, visit our website.

References

Visible links
1. http://www.babergh.gov.uk/
2. http://www.midsuffolk.gov.uk/