Research for Action

Dear Cheshire East 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

CCR FOI Investigation Team, Cheshire East Council

[1]Cheshire East New Logo
 
 
 
 
 
 
Date: 18 March 2019
Our Reference: 4711665
 
Dear Ms Rogers
 
Freedom of Information Act 2000
 
Thank you for your request.
 
Your request has been identified as falling within the scope of Freedom of
Information Act 2000 and It will be treated as a request for information
within the meaning of the Freedom of Information Act: this means that we
will send you a full response within 20 working days, either supplying you
with the information which you want, or explaining to you why we cannot
supply it. 

The due date is 15 April 2019.
 
If we need any further clarification or there is a problem, we will be in
touch. 
 
We will either supply you with the information which has been requested,
or explain why we cannot supply it.

In the meantime if you wish to discuss this further please contact me. It
would be helpful if you could quote the reference number quoted above.

 
Yours sincerely
 
 
Kate Tomlinson
Compliance and Customer Relations Assistant
Cheshire East Council
 
NOTE: Please do not edit the subject line when replying to this email.

References

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CCR FOI Investigation Team, Cheshire East Council

1 Attachment

[1]Cheshire East New Logo
 
 
 
 
 
 
Date: 26 March 2019
Our Reference: 4711665
 
Dear Ms Rogers
 
Thank you for your request for information received on 18 March 2019.
 
Please find attached our response to your request.
 
Yours sincerely
 
 
Kate Tomlinson
Compliance and Customer Relations Assistant
Cheshire East Council
 
NOTE: Please do not edit the subject line when replying to this email.

References

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