FOI Request - LOBO Loans
We would like to ask for an update on your current and historic LOBO loan portfolio.
We are aware that in 2015 you held at least 3 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.
A. A spreadsheet with one line for each loan and the related information under each of the following column headings:
1. Reference number
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. New interest rate, if the option was exercised and a new rate was accepted.
9. Fairvalue of the loan at the end of the 2016/17 financial year 10. Fairvalue of the loan at the end of the 2017/18 financial year 11. Fairvalue of the loan at the end of the 2019/20 financial year 12. Fairvalue of the loan at the end of the 2020/21 financial year 13. Please indicated if the loan has been cancelled, refinanced, restructured, including cases when the options were removed.
*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.
For all the loans that have been cancelled, refinanced or restructured, including cases when the options were removed, please provide the following additional information:
14. The date on which the loan was cancelled, refinanced or restructured.
15. The breakage cost for the cancelling, refinancing or restructuring of the loan 16. New interest rate in the case of a restructuring 17. New maturity date in the case of a restructuring.
18. Fairvalue of the new loan at the end of 2016/17 19. Fairvalue of the new loan at the end of 2017/18 20. Fairvalue of the new loan at the end of 2018/19 21. Fairvalue of the new loan at the end of 2019/20 22. Fairvalue of the new loan at the end of 2020/21 23. Name of the advisor for the cancelling, refinancing or restructuring of the loan
B. A second spreadsheet 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: current 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 2004/05 to 2020/21 indicating for each loan the total interest payment made in that year.**
**Note: Please provide the exact payments and not approximations based on calculations within the spreadsheets, as payments will vary depending on the calculation method (for example if it is a leap year or not).
Please find the requested information attached here.