FOI Request - Lender Option Borrower Option (LOBO) Loans

Request 101000332990

1. How many Lender Option Borrower Option (LOBOs) contracts do you have on your books?

2. When were they signed and by whom?

3. With which financial institutions were they taken out?

4. Who advised the council to enter the LOBO(s)?

5. Since each Contract has been signed, has the lender exercised their option and changed the interest rate?

6. If so, please specify the dates of the interest rate changes and the revised interest rates.

7. Please provide a copy of the original, signed LOBO agreements.

Response 13-04-2015

1.  2

2.  Eurohypo signed 8/8/06 by Chief Financial Officer. Barclays signed 30/3/07 by Chief Financial Officer.

3.  Eurohypo and Barclays

4.  Treasury advisers, Butlers, were consulted. Final decision rested with Council.

5.  No, in respect of either loan.

6.  N/A

7.  This information is exempt under Section 33(1)(b) of the Freedom of Information (Scotland) Act 2002, subject to commercial confidentiality

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