Restructuring of LOBO loans

Research for Action made this Freedom of Information request to Wrexham County Borough Council as part of a batch sent to 219 authorities

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Research for Action

Dear Wrexham County 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

foi, Wrexham County Borough Council

6 Attachments

Dear Ms Rogers

 

Request for information

Freedom of Information Act 2000

 

Thank you for your request under the Freedom of Information Act 2000
(FOIA) dated 18/03/2019 which was received by Wrexham County Borough
Council on 19/03/2019.  Under the FOIA, we have 20 working days to comply
with your request and you should expect a full response by 15/04/2019.

 

The Council has a right to make a charge on all requests, to cover the
cost of disbursements, including photocopying and postage, and a list of
our charges are available on our website:
[1]https://www.wrexham.gov.uk/top_navigatio...

 

We will make every effort to ensure you receive a response by the due
date.  However, we will notify you if there is a need to extend the time
limit and give you an estimate of when you can expect to receive a
response.

 

Yours sincerely

Corporate Information Team / TÎm Gwybodaeth Corfforedig

Corporate and Customer Services Department / Adran Gwasanaethau
Corfforaethol a Chwsmeriaid

Wrexham County Borough Council / Cyngor Bwrdeistref Sirol Wrecsam

 

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Council, Guildhall, Wrexham LL11 1AY

        Cyngor Bwrdeistref Sirol Wrecsam, Neuadd y Dref, Wrecsam, LL11 1AY

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Original Message-----
From: Research for Action
[mailto:[FOI #562713 email]]
Sent: 18 March 2019 14:31
To: foi <[Wrexham Council request email]>
Subject: Freedom of Information request - Restructuring of LOBO loans

 

Dear Wrexham County 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

 

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

 

Please use this email address for all replies to this request:

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foi, Wrexham County Borough Council

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foi, Wrexham County Borough Council

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Research for Action

Dear Wrexham County Borough Council,
Can you kindly provide a copy of the response without encryption and password protection as I am finding it impossible to access.
Kind regards,
Ludovica Rogers

foi, Wrexham County Borough Council

7 Attachments

Dear Ms Rogers

 

Freedom of Information Act 2000

 

Further to your request for information under the Freedom of Information
Act, please find attached the response from Wrexham County Borough
Council, with security password and encryptions.  Should you have any
further problems opening this email please do not hesitate to contact the
Corporate Information Team.

 

If you are unhappy with the way the Council has handled your request, you
may ask for an internal review.  Please contact [1][Wrexham Council request email]
01978 292000 if you require an internal review of your case.

 

If you are not content with the outcome of the internal review, you have
the right to apply directly to the Information Commissioner for a
decision.  The Information Commissioner can be contacted at – Wycliffe
House, Water Lane, Wilmslow, Cheshire, SK9 5AS, telephone 0303 123 1113,
[2]www.ico.org.uk

 

Yours sincerely

TÎm Gwybodaeth Corfforedig /Corporate Information Team

Llywodraethu a Chwsmeriaid / Governance & Customer

Cyngor Bwrdeistref Sirol Wrecsam /Wrexham County Borough Council

 

[3]Description: Description: Description:
http://www.wrexham.gov.uk/assets/png/log...
Description: Description: cid:image001.png@01D12868.DFDFC8F0  01978 292000

[5]Description: Description: Description:
http://www.wrexham.gov.uk/assets/png/add...  Cyngor Bwrdeistref
Sirol Wrecsam, Neuadd y Dref, Wrecsam, LL11 1AY

         Wrexham County Borough Council, Guildhall, Wrexham LL11 1AY

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|[8]wrexham.gov.uk

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[10]twitter.com/cbswrecsam   | [11]twitter.com/wrexhamcbc

[12]Description: Description: Description:
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[13]facebook.com/cyngorwrecsam | [14]facebook.com/wrexhamcouncil

 

 

 

 

 

 

 

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Research for Action

Thank you for the information provided. Can you confirm that for the change to the terms of the Barclays loans the council dealt directly with the bank and that no brokers or advisors were involved.
Can you also provide copies of the original documents that indicate the change in terms to the loans as requested in point C of my FOI request.
Kind regards,
Ludovica Rogers

foi, Wrexham County Borough Council

7 Attachments

Dear Ms Rogers

 

With reference to your query relating to the response to your Freedom of
Information Request 9288 I  can confirm I have received a response from
the relevant department and I can confirm that the Council dealt directly
with the bank, and no brokers or advisors were involved.  I have attached
a copy of the letter from the Bank notifying the Council of the change. I
apologise for the information not be provided to yourself  at the point of
our final response.

 

Kind regards

 

TÎm Gwybodaeth Corfforedig / Corporate Information Team

Llywodraethu a Chwsmeriaid / Governance & Customer

Cyngor Bwrdeistref Sirol Wrecsam / Wrexham County Borough Council

 

[1]Description: Description: Description:
http://www.wrexham.gov.uk/assets/png/log...
Description: Description: cid:image001.png@01D12868.DFDFC8F0  01978 292000

[3]Description: Description: Description:
http://www.wrexham.gov.uk/assets/png/add...  Cyngor Bwrdeistref
Sirol Wrecsam, Neuadd y Dref, Wrecsam, LL11 1AY

         Wrexham County Borough Council, Guildhall, Wrexham LL11 1AY

[4]Description: Description: Description:
http://www.wrexham.gov.uk/assets/png/web...
|[6]wrexham.gov.uk

[7]Description: Description: Description:
http://www.wrexham.gov.uk/assets/png/twi...
[8]twitter.com/cbswrecsam   | [9]twitter.com/wrexhamcbc

[10]Description: Description: Description:
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[11]facebook.com/cyngorwrecsam | [12]facebook.com/wrexhamcouncil

 

 

 

 

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Research for Action

Dear foi officer,
Thank you for the response to my email.
Could you also kindly provide the deed poll that indicates the removal of the option.
Kind regards,
Ludovica Rogers

foi, Wrexham County Borough Council

6 Attachments

Dear Ms Rogers

 

Request for information

Freedom of Information Act 2000

 

Thank you for your request under the Freedom of Information Act 2000
(FOIA) dated 13/05/2019 which was received by Wrexham County Borough
Council on 14/05/2019.  Under the FOIA, we have 20 working days to comply
with your request and you should expect a full response by 11/06/2019.

 

The Council has a right to make a charge on all requests, to cover the
cost of disbursements, including photocopying and postage, and a list of
our charges are available on our website:
[1]https://www.wrexham.gov.uk/top_navigatio...

 

We will make every effort to ensure you receive a response by the due
date.  However, we will notify you if there is a need to extend the time
limit and give you an estimate of when you can expect to receive a
response.

 

Yours sincerely

TÎm Gwybodaeth Corfforedig/ Corporate Information Team

Llywodraethu a Chwsmeriaid /Governance & Customer

Cyngor Bwrdeistref Sirol Wrecsam/ Wrexham County Borough Council

 

[2]Description: Description: Description:
http://www.wrexham.gov.uk/assets/png/log...
Description: Description: cid:image001.png@01D12868.DFDFC8F0  01978
292000                                             

[4]Description: Description: Description:
http://www.wrexham.gov.uk/assets/png/add...  Cyngor Bwrdeistref
Sirol Wrecsam, Neuadd y Dref, Wrecsam, LL11 1AY

          Wrexham County Borough Council, Guildhall, Wrexham LL11 1AY

[5]Description: Description: Description:
http://www.wrexham.gov.uk/assets/png/web...
|[7]wrexham.gov.uk

[8]Description: Description: Description:
http://www.wrexham.gov.uk/assets/png/twi...
[9]twitter.com/cbswrecsam | [10]twitter.com/wrexhamcbc

[11]Description: Description: Description:
http://www.wrexham.gov.uk/assets/png/fac...
| [13]facebook.com/wrexhamcouncil                             

 

 

 

 

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Research for Action

Dear foi officer,
Can you please consider this a follow up question to my FOI request 9288, rather than a new FOI.
Kind regards,
Ludovica Rogers

foi, Wrexham County Borough Council

6 Attachments

Dear Ms Rogers

 

Freedom of Information

 

Thank you for your email dated 16^th May (15:01).  Due to the number of
requests for information under the Freedom of Information Act received by
Wrexham County Borough Council your request has been logged  as a new FOI
and therefore subject to our requirement to reply to you within 20 working
days.  

 

I will in contact with you as soon as a response is available to your
query.

 

Kind regards

 

TÎm Gwybodaeth Corfforedig / Corporate Information Team

Llywodraethu a Chwsmeriaid / Governance & Customer

Cyngor Bwrdeistref Sirol Wrecsam / Wrexham County Borough Council

 

[1]Description: Description: Description:
http://www.wrexham.gov.uk/assets/png/log...
Description: Description: cid:image001.png@01D12868.DFDFC8F0  01978 292000

[3]Description: Description: Description:
http://www.wrexham.gov.uk/assets/png/add...  Cyngor Bwrdeistref
Sirol Wrecsam, Neuadd y Dref, Wrecsam, LL11 1AY

         Wrexham County Borough Council, Guildhall, Wrexham LL11 1AY

[4]Description: Description: Description:
http://www.wrexham.gov.uk/assets/png/web...
|[6]wrexham.gov.uk

[7]Description: Description: Description:
http://www.wrexham.gov.uk/assets/png/twi...
[8]twitter.com/cbswrecsam   | [9]twitter.com/wrexhamcbc

[10]Description: Description: Description:
http://www.wrexham.gov.uk/assets/png/fac...
[11]facebook.com/cyngorwrecsam | [12]facebook.com/wrexhamcouncil

 

 

 

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foi, Wrexham County Borough Council

9 Attachments

Dear Ms Rogers

 

Freedom of Information Act 2000

 

Further to your request for information under the Freedom of Information
Act, please find attached the response from Wrexham County Borough
Council.

 

If you are unhappy with the way the Council has handled your request, you
may ask for an internal review.  Please contact [1][Wrexham Council request email]
01978 292000 if you require an internal review of your case.

 

If you are not content with the outcome of the internal review, you have
the right to apply directly to the Information Commissioner for a
decision.  The Information Commissioner can be contacted at – Wycliffe
House, Water Lane, Wilmslow, Cheshire, SK9 5AS, telephone 0303 123 1113,
[2]www.ico.org.uk

 

Yours sincerely

TÎm Gwybodaeth Corfforedig /Corporate Information Team

Llywodraethu a Chwsmeriaid / Governance & Customer

Cyngor Bwrdeistref Sirol Wrecsam /Wrexham County Borough Council

 

[3]Description: Description: Description:
http://www.wrexham.gov.uk/assets/png/log...
Description: Description: cid:image001.png@01D12868.DFDFC8F0  01978 292000

[5]Description: Description: Description:
http://www.wrexham.gov.uk/assets/png/add...  Cyngor Bwrdeistref
Sirol Wrecsam, Neuadd y Dref, Wrecsam, LL11 1AY

         Wrexham County Borough Council, Guildhall, Wrexham LL11 1AY

[6]Description: Description: Description:
http://www.wrexham.gov.uk/assets/png/web...
|[8]wrexham.gov.uk

[9]Description: Description: Description:
http://www.wrexham.gov.uk/assets/png/twi...
[10]twitter.com/cbswrecsam   | [11]twitter.com/wrexhamcbc

[12]Description: Description: Description:
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[13]facebook.com/cyngorwrecsam | [14]facebook.com/wrexhamcouncil

 

 

 

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