Treasury advice with regard to Manchester's LOBO Swaption / Embedded Derivative Loans

The request was partially successful.

Dear Manchester City Council,

For the LOBO contracts the council signed over the last twenty years please confirm which financial advisors advised the council on the cost / Benefit of each individual deal?

I am interested in understanding the process the council has undertaken to evaluate the cost/ benefit of entering lobo contracts versus borrowing from the Treasury / PWLB.

Which brokerage firms executed each of the trades?

What competitive process did the council undertake to select the above broker?

How much were Treasury Advisors paid on an annual retainer basis and how much was each advisor additionally paid for advice relating to each individual LOBO contract?

Yours faithfully,

Ranjan Kumaran

Manchester City Council

Dear Mr Kumaran

Re: Request for Information - Reference No: COR/9QCJZF

Thank you for your request for information received by Manchester City
Council on 28th October 2014.

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Yours sincerely

Information Compliance Unit
Democratic Services
PO Box 532
Town Hall
Albert Square
Manchester
M60 2LA

Email: [Manchester City Council request email]
Website: www.manchester.gov.uk




Ranjan Kumaran To
<request-236328-19c972a1@whatdothe FOI requests at Manchester City Council
yknow.com> <[Manchester City Council request email]>
cc
28/10/2014 11:43
Subject
Freedom of Information request - Treasury advice with regard to
Manchester's LOBO Swaption / Embedded Derivative Loans

Dear Manchester City Council,

For the LOBO contracts the council signed over the last twenty years please
confirm which financial advisors advised the council on the cost / Benefit
of each individual deal?

I am interested in understanding the process the council has undertaken to
evaluate the cost/ benefit of entering lobo contracts versus borrowing from
the Treasury / PWLB.

Which brokerage firms executed each of the trades?

What competitive process did the council undertake to select the above
broker?

How much were Treasury Advisors paid on an annual retainer basis and how
much was each advisor additionally paid for advice relating to each
individual LOBO contract?

Yours faithfully,

Ranjan Kumaran

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Manchester City Council

1 Attachment

For the attention of Ranjan Kumaran

Please find attached below a letter in response to your Freedom of
Information Act request.

Thanks
******************************************************************************
Carol Culley
Deputy City Treasurer
Corporate Core
Room 103a, Town Hall,
Albert Square, Manchester, M60 2JR

Telephone:  0161 234 3406 (internal code 800)
[mobile number]
Fax: 0161 234 3435
E-mail:  carol[email address]
******************************************************************************

 

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