LOBO Loan Portfolio - Find a freedom of information request

We would like to ask for an update on your current and historic LOBO loan portfolio.

We are aware that in 2015 you held a certain number of LOBO loans and that some of these may now have been cancelled or transformed into fixed-rate loans.

The information requested below is for all the LOBO loans you originally held in 2015 and any changes to them since.

Please provide:

1. A spreadsheet in .xls format, with one line for each loan and the related information under each of the following column headings:

a. Reference number.

b. Principal.

c. Initial counterparty.

d. Most recent counterparty.

e. Date when the loan was transferred to the most recent counterparty.*

6. Has the option been exercised?

f. If yes, date when the option was exercised.

g. Most recent interest rate.

h. Fair value of the loan at the end of the 2015/16 financial year.

i. Fair value of the loan at the end of the 2016/17 financial year.

j. Fair value of the loan at the end of the 2017/18 financial year.

k. Fair value of the loan at the end of the 2018/19 financial year.

l. Fair value of the loan at the end of the 2019/20 financial year.

m. Fair value of the loan at the end of the 2020/21 financial year.

n. The name of the Treasury Management Advisor at the time the loan was taken out.

o. The name of the broker who arranged the loan.

p. The fee paid to the broker to arrange the loan.

q. 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. 

*Note: If there have been other counterparties during the term of the loan, please indicate in the notes the name of the other counterparties and the date when the loan was transferred to them.

2. For all the loans that have been cancelled, refinanced or restructured, including cases when the options were removed, please provide the following additional information:

a. The date on which the loan was cancelled, refinanced, restructured or the option was removed.

b. The breakage cost for the cancelling, refinancing or restructuring the loan.

c. New interest rate in the case of a restructuring.

d. New maturity date in the case of a restructuring.

e. Fair value of the new loan at the end of 2016/17.

f. Fair value of the new loan at the end of 2017/18.

g. Fair value of the new loan at the end of 2018/19.

h. Fair value of the new loan at the end of 2019/20.

i. Fair value of the new loan at the end of 2020/21.

j. Name of the advisor for the cancelling, refinancing or restructuring of the loan.

k. Fee paid to the advisor for arranging the cancelling, refinancing or restructuring of the loan

3. A second spreadsheet in .xls format, with one line for each loan showing the following information:

a. 1st column: internal reference number.

b. 2nd column: Principal.

c. 3rd column: initial interest rate.

d. 4th column: most recent interest rate.

e. 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).

f. 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).

4. A copy of all the original loans.

Please see the attached information.

If you would like to see a copy of this attachment, please request it from CustomerInformationService@lincolnshire.gov.uk quoting the reference number 1812150.