FOI Request LOBO Loan Information

Request 101001458038

Regarding your LOBO loan portfolio, please provide the following:

1. A spreadsheet with the following details for each loan:
- Principal
- Initial Counterparty
- Date signed
- Drawdown date
- Maturity date
- Option period
- Initial interest rate
- First step up rate (if applicable)
- Date of first step up rate (if applicable)
- First option date
- Has the option been exercised
- If so when
- Current interest rate
- Current fairvalue
- Current Counterparty
- Name of the Treasury Management Advisor at the time the contract was signed
- Name of the broker who arranged the loan
- Fee paid to the broker for the arranging the loan

2. Copies of all original LOBO loan contracts.

3. Copies of all the broker fee invoices.

4. Copies of Treasury Management Advisor contracts, invoices and tender documents during the period the loans were taken out.

Response 17-04-2017

1. 

LOBO Information  
Principal £10,100,000
Initial Counterparty EuroHypo
Date Signed 08-Aug-06
Drawdown Date 10-Aug-06
Maturity Date 10-Aug-66
Option Period 5 Years
Initial Interest Rate 3.95%
First Step Up Rate N/A
Date of First Step Up Rate N/A
First Option Date 10-Aug-11
Has the Option been Exercised No
Current Interest Rate 3.95%
Current Fair Value £17,919,000
Current Counterparty Commerzbank
Treasury Adviser at time contract was signed Butlers
Broker who arranged Loan ICAP
Fee Paid to Broker for arranging Loan £20,200

2. Please see documents – but with the signatures redacted.     Eurohypo Contract

3. Broker fee is given above, however, the details are exempt under Sections 33(1)b and 33(2)b of the Freedom of Information (Scotland) Act 2002- Commercial Interests and the Economy. Where 33(1)b disclosure under this Act would, or would be likely to, prejudice substantially the commercial interests of any person (including, without prejudice to that generality, a Scottish public authority) and 33(2)c Information is exempt information if its disclosure under this Act would, or would be likely to, prejudice substantially the financial interests of an administration in the United Kingdom.

4. Treasury Advisory contract attached together with the invoice – with signatures redacted.  Butlers Invoice     Butlers Contract  

 At the time the treasury advisory contract covering the period, as such no tender documents were produced and therefore cannot be produced, this is therefore exempt under Section 17 of the Freedom of Information (Scotland) Act 2002- Information Not Held. 

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