FOI Request Council Borrowing

Request 101001577789

I write to request the following under the Freedom of Information Act 2000:

1.Please provide a list of all private loans the council is currently repaying with the following details:
a. Lender name (i.e. Depfa, now FMS)
b. Date loan agreed
c. Repayment period
d. Original loan amount (£)
e. Original interest rate %
f. Any agreed “step up” rate (if applicable) %
g. Date of agreed “step up” rate (if applicable)
h. Total repayment amount paid in 2016/2017 (£)
i. Interest rate paid in 2016/107 %
j. Total principal left on the loan (£)

By private loan, I refer to loans from banks and outside organisations. This does not include borrowing from the Public Works Loan Board.

2) Where Lender Option Borrower Loans the council may have were provided by Barclays, please state if these loans were restructured in the past two years and include any new interest rate percentage on the loans and when the council will begin to make these repayments.

Response 22-08-2017

Information requested is as follows:-

Loan 1

Lender: Commerzbank (Formerly Eurohypo)

Date of Loan: 10 August 2006

Repayment Period: 60 Years

Loan Amount: £10,100,000.00

Original Interest Rate: 3.95%

Step-up Rates: None

Interest Paid 2016/17: £400,043.01

Principal Outstanding: £10,100,000.00

Loan 2

Lender: Barclays

Date of Loan: 30 March 2007

Repayment Period: 70 Years

Loan Amount: £23,300,000.00

Original Interest Rate: 3.65%

Step-up Rates: 11 August 2008 - 4.75%; 10 February 2011 - 5.00%

Interest Paid 2016/17: £1,168,191.78

Principal Outstanding: £23,300,000.00

Restructure: 28 June 2016 - Converted to a Fixed Rate Loan. No change to interest rate or repayment agreement