Research for Action

Dear Haringey 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

Haringey Borough Council

Dear Ms Rogers,

 

Freedom of Information / Environmental Information Regulations Request:
LBH/8518519

 

I acknowledge your request for information received on 18 March 2019.

 

This information request will be dealt with in accordance with the Freedom
of Information Act 2000 / Environmental Information Regulations and we
will send the response by 15 April 2019

 

Yours sincerely,

 

 

Feedback and Information Governance

 

Shared Service Centre | Central Team

Haringey Council 

Alexandra House, 10 Station Road, Wood Green, London N22 7TR

 

www.haringey.gov.uk

twitter@haringeycouncil

facebook.com/haringeycouncil

 

 

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Skeen Thomas, Haringey Borough Council

1 Attachment

Dear Ms Rogers,

Re: Freedom of Information Act Request ref: LBH/8518519

 

Thank you for your request for information received on 18 March 2019, in
which you asked for the following:

 

 

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

 

 

My response is as follows:

 

No loans have been restructured,  refinanced or had the terms changed
since 2015.

 

If you are unhappy with how we have responded to your request you can ask
us to conduct an Internal Review. If so, please contact the Feedback and
Information Team as below. (Please note you should do this within two
months of receiving this response.)   

 

Feedback and Information Team

5th Floor, Alexandra House

10 Station Road

London

N22 7TR

E [1][email address]

 

 

Yours sincerely,

 

 

Thomas Skeen, CPFA

Head of Pensions, Treasury and Chief Accountant

 

Haringey Council

5th Floor, Alex House, 10 Station Road, Wood Green, London, N22 7TR

 

E. [2][email address]

 

[3]BS1995_Haringey_TapeType_BLACK_RGB

 

[4]www.haringey.gov.uk

[5]twitter@haringeycouncil

[6]facebook.com/haringeycouncil

 

P Please consider the environment before printing this email.

 

This email and any files transmitted with it are confidential, may be
subject to legal privilege and are intended only for the person(s) or
organisation(s) to whom this email is addressed. Any unauthorised use,
retention, distribution, copying or disclosure is strictly prohibited. If
you have received this email in error, please notify the system
administrator at Haringey Council immediately and delete this e-mail from
your system. Although this e-mail and any attachments are believed to be
free of any virus or other defect which might affect any computer or
system into which they are received and opened, it is the responsibility
of the recipient to ensure they are virus free and no responsibility is
accepted for any loss or damage from receipt or use thereof. All
communications sent to or from external third party organisations may be
subject to recording and/or monitoring in accordance with relevant
legislation.

References

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