Restructuring of LOBO loans
Dear Derbyshire County 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
Dear Ms Rogers,
I refer to your request for Information received on 18 March 2019.
We will be dealing with your request under the Freedom of Information Act 2000. In accordance with the legislation, the deadline for responding is 20 working days from the receipt of the request, this being 15 April 2019. However, we shall endeavour to deal with your request promptly, and if possible before this date.
Yours Sincerely
Justin Hird
Legal Assistant
Derbyshire County Council
County Hall
Matlock
DE4 3AG
Telephone: 01629 539336
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Dear Ludovica
Thank you for your request dated 18.3.19.
Your enquiry was as follows:
“ Dear Derbyshire County 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 “
The request has been considered under the Freedom of Information Act 2000.
The response to your request is as follows:
Please find attached spreadsheet as requested.
I hope this now satisfies your request.
However, should you wish the outcome to be reviewed, please follow the
procedure as set out below:-
If you wish to challenge this decision, please send your comments to:
Stage 1
Access to Information Solicitor
Legal Services
Derbyshire County Council
County Hall
Matlock
DE4 3AG
Email: [1][Derbyshire County Council request email]
Stage 2
After completing the above procedure, if you wish to challenge the
decision further, then you have a right to contact the Information
Commissioner’s Office as follows:
Information Commissioner’s Office
Wycliffe House
Water Lane
Wilmslow
Cheshire
SK9 5AF
Tel: 0303 123 1113/Fax: 01625 524510
[2]www.ico.org.uk/complaints.aspx
Regards
Ian
Ian Molyneux | Senior Accountancy Assistant | Finance & ICT |
Commissioning, Communities and Policy | Derbyshire County Council | County
Hall, Matlock, Derbyshire DE4 3AG | Direct dial: 01629 538720
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delivering high quality services. You can find out more about us by
visiting 'www.derbyshire.gov.uk'. If you want to work for us go to our job
pages on 'www.derbyshire.gov.uk/jobs'. You can register for e-mail alerts,
download job packs and apply on-line.
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