Restructuring of LOBO loans

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Dear Tewkesbury 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

Customer Services, Tewkesbury Borough Council

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Tewkesbury Borough Council

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customerservices@tewkesbury.gov.uk, Tewkesbury Borough Council

Thank you for submitting your freedom of information request with
Tewkesbury Borough Council.

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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

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customerservices@tewkesbury.gov.uk, Tewkesbury Borough Council

Freedom of Information Act request - FS-Case-110061826

Please find the response to your request below. Please note there may be
additional information attached to this email.

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Tewkesbury Borough Council do not hold any LOBO loans.
There is no further information to add.

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The deadline for responding to this request was 15/04/2019

This response was sent 2019-03-20 09:14:01

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