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

The request was partially successful.

Dear Newham Borough 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

Newham Borough Council

Please quote your references when contacting the Council.

Dear Sir/Madam,

Freedom of Information Act 2000

Thank you for your request for information received on 28/10/2014. We are dealing with your request and plan to respond before 25/11/2014.

If you have any queries or concerns, please contact the Information Governance Team on 020 8430 3737 or email us at: [email address]

Yours Faithfully

Information Governance Team
Newham Council

Newham Council Publication Scheme is on:

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Dear Newham Borough Council,

A reply should have been received by 25th November. Please update me on the status of the FOI request.

Yours faithfully,

Ranjan Kumaran

Newham Borough Council

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Dear Mr Kumaran,

We attach our response under the disclosure provisions of the Freedom of Information Act 2000.

If you require any further information please do not hesitate to contact a member of our team on (020) 8430 2000 or email us at [email address].

Alternatively, if you believe we have not dealt with your request satisfactorily you may initially complain to us and then to the Information Commissioner's Office. The Information Commissioner would expect you to have given the Council the opportunity to deal with your appeal prior to you contacting them. Please see guidance on the Freedom of Information Appeals page:

As with other local authorities, the number of enquiries has increased each year since the introduction of the Freedom of Information legislation. Therefore, to enable us to deal with your enquiry more efficiently, we have introduced an online form. We would ask that you submit all future requests via our online form:

In addition, you may find it useful to access the following link, where you can view our Publication Scheme, a list of previous requests and responses and/or use our E-Form should you wish to make further requests:

Yours sincerely,

Information Governance
London Borough of Newham
Newham Dockside, 1000 Dockside Road, London E16 2QU
[email address]

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