We would like to ask for an update on your current and historic LOBO loan portfolio.
Please provide:
A. A spreadsheet in .xls format, with one line for each loan and the related information under each of the following column headings:
1. Reference number
2. Principal
3. Initial counterparty
4. Most recent counterparty
5. Date when the loan was transferred to the most recent counterparty.* 6. Has the option been exercised?
7. If yes, date when the option was exercised.
8. Most recent interest rate
9. Fairvalue of the loan at the end of the 2015/16 financial year
10. Fairvalue of the loan at the end of the 2016/17 financial year
11. Fairvalue of the loan at the end of the 2017/18 financial year
12. Fairvalue of the loan at the end of the 2018/19 financial year
13. Fairvalue of the loan at the end of the 2019/20 financial year
14. Fairvalue of the loan at the end of the 2020/21 financial year
15. The name of the Treasury Management Advisor at the time the loan was taken out
16. The name of the broker who arranged the loan
17. The fee paid to the broker to arrange the loan
18. Please indicated if the loan has been cancelled, refinanced, restructured, including cases when the options were removed and the loan was transformed into a fixed-rate loan.
B. For all the loans that have been cancelled, refinanced or restructured, including cases when the options were removed, please provide the following additional information:
19. The date on which the loan was cancelled, refinanced, restructured or the option was removed 20. The breakage cost for the cancelling, refinancing or restructuring the loan 21. New interest rate in the case of a restructuring 22. New maturity date in the case of a restructuring 23. Fairvalue of the new loan at the end of 2016/17 24. Fairvalue of the new loan at the end of 2017/18 25. Fairvalue of the new loan at the end of 2018/19 26. Fairvalue of the new loan at the end of 2019/20 27. Fairvalue of the new loan at the end of 2020/21 28. Name of the advisor for the cancelling, refinancing or restructuring of the loan 29. Fee paid to the advisor for arranging the cancelling, refinancing or restructuring of the loan
C. A second spreadsheet in .xls format, with one line for each loan showing the following information:
– 1st column: internal reference number
– 2nd column: Principal
– 3rd column: initial interest rate
– 4th column: most recent interest rate
– 5th column: Original projection of the total interest to be paid over the whole term of the loan (as from the drawdown date to the original maturity date, independently if the loan has now been cancelled or restructured)
– Followed by one column for each financial year, from when the loan was taken out to 2020/21 indicating for each loan the total interest payment made in that year.**
**Note: Please provide the exact payments and not approximate calculations, as payments will vary depending on the calculation method (for example if it is a leap year or not).
D. A copy of all the original loans
All information up to 2018/2019 is available in a response to a previous request for information and can be seen online at:
The updated spreadsheet is available via the link below:
In response to question 17 and the final question the individual fee paid and the loan agreement is a private commercial arrangement and a disclosure of the same would prejudice any future commercial arrangements which Devon County Council may wish to undertake. Whilst we appreciate the need to be open, it is not in the public interest to prejudice the council’s commercial interests. This information is therefore exempt from disclosure pursuant to s. 43 of the Freedom of Information Act 2000.