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.

Restructuring of LOBO loans

Research for Action made this Freedom of Information request to North East Combined Authority as part of a batch sent to 219 authorities

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

We're waiting for Research for Action to read a recent response and update the status.

Research for Action

Dear North East Combined Authority,

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

NECA FOI, North East Combined Authority

Thank you for your request.

We are dealing with it under the terms of the Freedom of Information Act
2000. 

We have passed your request to relevant colleagues. 

We will respond to your request within 20 working days starting the
working day after receipt of your request.

 

Regards

 

Freedom of Information Team

 

Research for Action

Dear North East Combined Authority,
The response to my FOI request is well overdue.
Please can you provide a response as soon as possible.
Kind regards,
Ludovica Rogers

NECA FOI, North East Combined Authority

Dear Ludovica,

Please accept our sincere apologies for the oversight in not responding to
your request, and any inconvenience caused as a result of the protracted
delay. We can confirm that the NECA has LOBO loans but none of these have
been restructured, refinanced or had terms changed since 2015. 

Kind Regards

Freedom of Information team

--------------------------------------------------------------------------

From: Research for Action <[FOI #562629 email]>
Sent: 23 May 2019 21:18
To: NECA FOI
Subject: Re: Freedom of Information request - Restructuring of LOBO loans
 
Dear North East Combined Authority,
The response to my FOI request is well overdue.
Please can you provide a response as soon as possible.
Kind regards,
Ludovica Rogers

show quoted sections

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.