Research for Action

Dear Hillingdon 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

Residents Services FOI, Hillingdon Borough Council

Dear Ludovica Rogers
Please accept our apology for the delay in our acknowledgement of your
email.

I am writing in response to your request for information under the Freedom
of Information Act 2000, received 18/03/2019  

Under the Freedom of Information Act 2000 we have 20 working days to
respond to your request.  Therefore the deadline for our response
is 15/04/2019

If we require further information or clarification from you in order to
assist us in responding to your request, or if we require a fee to be paid
before we can respond we will contact you shortly.

 

Yours sincerely

 

Michelle Barber

Members Liaison Officer /FOI Officer

Resident Services

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FOI ., Hillingdon Borough Council

1 Attachment

Dear Ludovica Rogers

 

I am writing in response to your request for information below.

Please see attached.

 

If you have any queries regarding this matter please do not hesitate to
contact me.

If you wish to request an internal review of our response you should
write, within 2 months, to:

Office Managing Partner, Legal Services, Civic Centre, High St, Uxbridge,
UB8 1UW (or via email to [1][Hillingdon Borough Council request email] marked for the attention
of the Office Managing Partner).

Please remember to quote the reference number above in any future
communications.

If you are not content with the outcome of the internal review, you have
the right to apply to the Information Commissioner for a decision. The
Information Commissioner can be contacted at: Information Commissioner’s
Office, Wycliffe House, Water Lane, Wilmslow, Cheshire, SK9 5AF.

 

Regards

Data Protection &
Freedom of Information Officer
Legal Services (3E 04)
London Borough of Hillingdon
Civic Centre
High Street
Uxbridge
UB8 1UW
01895 55(6923)

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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 documents that indicate the change in terms to the loans as requested in point C of my FOI request.
Kind regards,
Ludovica Rogers

FOI ., Hillingdon Borough Council

Dear Ludovica Rogers

Thank you for your email

We can confirm that we dealt directly with Barclays and no broker was
involved. Please note that the request for loan documentation is declined
pursuant to section 43 of the Freedom of Information Act 2000 because it
is commercially sensitive.  

 If you wish to request an internal review of our response you should
 write, within 2 months, to:

 Office Managing Partner, Legal Services, Civic Centre, High St, Uxbridge,
 UB8 1UW (or via email to [1][Hillingdon Borough Council request email]
marked for the attention
 of the Office Managing Partner).

Please remember to quote the reference number above in any future
 communications.

If you are not content with the outcome of the internal review, you have
 the right to apply to the Information Commissioner for a decision. The
 Information Commissioner can be contacted at: Information Commissioner’s
Office, Wycliffe House, Water Lane, Wilmslow, Cheshire, SK9 5AF.

Kind Regards
Data Protection &
Freedom of Information Officer
Legal Services (3E 04)
London Borough of Hillingdon
Civic Centre
High Street
Uxbridge
UB8 1UW
T: 01895  556351

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