Restructuring of LOBO loans

The request was partially successful.

Research for Action

Dear Newham Borough 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

Newham Borough Council

REQUESTER REFERENCE: C16878
ENQUIRY REFERENCE: E32502
Please quote your references when contacting the Council.

Dear Sir/Madam,

Freedom of Information Act 2000

Thank you for your request for information received on 18/03/2019. We are
dealing with your request and plan to respond by 15/04/2019.

If you have any queries or concerns, please contact the Information
Governance Team on 020 8430 2000 or email us at: [email address]

Yours Faithfully

Information Governance Team
Newham Council

Newham Council Publication Scheme is on: www.newham.gov.uk

══════════════════════════════════════════════════════════════════════════

NOTE: This communication is sent for and on behalf of the London Borough
of Newham.
However the views expressed within it are not necessarily the views or
policies of the Council. The unauthorised use, disclosure, copying or
alteration of this communication and any attachments is forbidden. This
communication and any attachments are intended for the addressee only and
may be confidential. If this has come to you in error you should
immediately permanently destroy it.
You should take no action based on it or copy or show it to anyone and
telephone the Council immediately with any issues on 020 8430 2000 or any
other number provided in the communication. Please note that electronic
communication is not considered a secure medium for sending information
and therefore maybe at risk.
We advise that you understand and accept this lack of security when using
this form of communication with us. Although we have taken steps to ensure
that this email and attachments are free from any virus, we advise that in
keeping with good computing practice the recipient should ensure they are
actually virus free and should run current anti-virus software. Please
note that email may be monitored and checked to safeguard the council
network from viruses, hoax messages or abuse of the Council's systems.
Action may be taken against any malicious and deliberate attempts to
infect the council network.
The information contained in this email maybe subject to public disclosure
under the Freedom of Information Act 2000. Unless the information is
legally exempt from disclosure the confidentiality of this email and your
reply cannot be guaranteed.

Newham Council’s Privacy Notice can be found on our website Data
Protection
https://www.newham.gov.uk/Pages/Services... ,
which outlines your rights and how we collect, use, store, delete and
protect your personal data.

Newham Borough Council

3 Attachments

Dear requester,

Thank you for your request. We attach our response under the disclosure
provisions of the Freedom of Information Act 2000.  We apologise for the
delay in responding to you.

If you are dissatisfied with the handling of your request, then you have
the right under Section 50 of the Act to request an internal review.  The
Information Commissioner would expect you to have given the Council the
opportunity to deal with your appeal prior to you contacting them. All
such requests must be sent to us within two months of receiving this
response and clearly state your reference number and reasons for an
internal review. You should send this by email to: [1][email address].

Please see further guidance on the Freedom of Information Appeals page:
[2]https://www.newham.gov.uk/Pages/Services...

If you require any further information please do not hesitate to contact a
member of our team on 020 8430 2000 or email us at: [3][email address].

Yours sincerely,

Information Governance

London Borough of Newham

Newham Dockside, 1000 Dockside Road,  London E16 2QU

Tel: 020 8430 2000

══════════════════════════════════════════════════════════════════════════

NOTE: This communication is sent for and on behalf of the London Borough
of Newham.
However the views expressed within it are not necessarily the views or
policies of the Council. The unauthorised use, disclosure, copying or
alteration of this communication and any attachments is forbidden. This
communication and any attachments are intended for the addressee only and
may be confidential. If this has come to you in error you should
immediately permanently destroy it.
You should take no action based on it or copy or show it to anyone and
telephone the Council immediately with any issues on 020 8430 2000 or any
other number provided in the communication. Please note that electronic
communication is not considered a secure medium for sending information
and therefore maybe at risk.
We advise that you understand and accept this lack of security when using
this form of communication with us. Although we have taken steps to ensure
that this email and attachments are free from any virus, we advise that in
keeping with good computing practice the recipient should ensure they are
actually virus free and should run current anti-virus software. Please
note that email may be monitored and checked to safeguard the council
network from viruses, hoax messages or abuse of the Council's systems.
Action may be taken against any malicious and deliberate attempts to
infect the council network.
The information contained in this email maybe subject to public disclosure
under the Freedom of Information Act 2000. Unless the information is
legally exempt from disclosure the confidentiality of this email and your
reply cannot be guaranteed.

Newham Council’s Privacy Notice can be found on our website Data
Protection
https://www.newham.gov.uk/Pages/Services... ,
which outlines your rights and how we collect, use, store, delete and
protect your personal data.

References

Visible links
1. mailto:[email%20address]
2. https://www.newham.gov.uk/Pages/Services...
3. mailto:[email%20address]

Research for Action

Dear Newham Borough Council,
Thank you for the response to my FOI request.
Could you kindly tell me what the acronym provided for advisor stands for?
Could you also provide copies of the deed poll for the removal of the option from the Barclays loans.
Kind regards,
Ludovica Rogers

Newham Borough Council

Dear Ms Rogers,

Thank you for your email. JCRA is an independent financial risk advisor.

Your second question is a new request, therefore will be logged as such. We will send you an acknowledgement for this.

Yours sincerely,

Information Governance team
Newham Council

show quoted sections

Newham Borough Council

REQUESTER REFERENCE: C16878
ENQUIRY REFERENCE: E32833
Please quote your references when contacting the Council.

Dear Sir/Madam,

Freedom of Information Act 2000

Thank you for your request for information received on 13/05/2019. We are
dealing with your request and plan to respond by 11/06/2019.

If you have any queries or concerns, please contact the Information
Governance Team on 020 8430 2000 or email us at: [email address]

Yours Faithfully

Information Governance Team
Newham Council

Newham Council Publication Scheme is on: www.newham.gov.uk

══════════════════════════════════════════════════════════════════════════

NOTE: This communication is sent for and on behalf of the London Borough
of Newham.
However the views expressed within it are not necessarily the views or
policies of the Council. The unauthorised use, disclosure, copying or
alteration of this communication and any attachments is forbidden. This
communication and any attachments are intended for the addressee only and
may be confidential. If this has come to you in error you should
immediately permanently destroy it.
You should take no action based on it or copy or show it to anyone and
telephone the Council immediately with any issues on 020 8430 2000 or any
other number provided in the communication. Please note that electronic
communication is not considered a secure medium for sending information
and therefore maybe at risk.
We advise that you understand and accept this lack of security when using
this form of communication with us. Although we have taken steps to ensure
that this email and attachments are free from any virus, we advise that in
keeping with good computing practice the recipient should ensure they are
actually virus free and should run current anti-virus software. Please
note that email may be monitored and checked to safeguard the council
network from viruses, hoax messages or abuse of the Council's systems.
Action may be taken against any malicious and deliberate attempts to
infect the council network.
The information contained in this email maybe subject to public disclosure
under the Freedom of Information Act 2000. Unless the information is
legally exempt from disclosure the confidentiality of this email and your
reply cannot be guaranteed.

Newham Council’s Privacy Notice can be found on our website Data
Protection
https://www.newham.gov.uk/Pages/Services... ,
which outlines your rights and how we collect, use, store, delete and
protect your personal data.

Research for Action

Dear Newham Borough Council,
Please can you indicate what name each letter of the acronym JCRA stands for.
You also suggest that my request for the deed poll qualifies as a new FOI request.
However, in my original FOI request, I had asked at point C for copies of documents that indicated the change of terms of the contract. I am simply specifying which information you still have not provided.
Please, therefore, provide the document as soon as possible as part of my original request.
Kind regards,
Ludovica Rogers