Newham

Long-term debt

PWLB loans:
£63,588,000

Other public sector loans:
£0

Private sector (LOBO loans):
£577,858,000

Bonds and securities:
£0

Total long-term borrowing:
£641,446,000

Source: DCLG Borrowing and Investment Live Tables Q2 2015-16

Newham's LOBO loans

Principal, £
Initial Counterparty
Existing counterparty
Date Signed
Drawdown date
Maturity date
Lender's option period (m)
Initial interest rate, %
Step up rate, %
Step up/1st option date
Rate change
Advisors
Brokers
Broker Fee, £
Notes
18,500,000Barclays BankBarclays Bank01/04/200811/04/200811/04/207864.5005.00011/04/2009Butlers/SectorN/AIndex linked range LOBO - see contract for details
10,000,000Bayerische LandesbankBayerische Landesbank18/06/200201/07/200201/07/204263.8754.95001/07/2005Butlers/SectorN/A
5,000,000Barclays BankBarclays Bank01/04/200801/04/200801/04/207864.3504.65001/04/2009Butlers/SectorN/AIndex linked range LOBO - see contract for details
10,000,000Dexia Credit LocalDexia Public Finance Bank03/10/200303/10/200305/10/2043243.5004.45003/04/2007Butlers/SectorN/A
10,000,000Dexia Credit LocalDexia Public Finance Bank17/05/200525/05/200526/05/20651204.20025/05/2015Butlers/SectorN/A
10,000,000DePfa BankFMS Wertmanagement20/03/200620/03/200618/03/2064244.44018/03/2007Butlers/SectorN/A
20,000,000DePfa BankFMS Wertmanagement06/04/200606/04/200606/04/2064364.42006/04/2007Butlers/SectorN/A
15,000,000DePfa BankFMS Wertmanagement03/04/200603/04/200601/04/206664.43001/04/2007Butlers/SectorN/A
30,000,000DePfa BankEuropaische Hypothekenbank03/07/200603/07/200602/07/206664.59502/07/2007Butlers/SectorN/A
50,000,000Barclays BankBarclays Capital31/07/200706/08/200706/08/207763.9904.86006/08/2008Butlers/SectorN/AIndex linked range LOBO - see contract for details
25,000,000Merrill LynchFMS Wertmanagement28/09/200705/10/200705/10/2057604.46305/10/2012Butlers/SectorN/A
25,000,000Barclays BankBarclays Capital11/11/200803/06/200803/12/207764.0906.80003/12/2010Butlers/SectorN/AIndex linked range LOBO - see contract for details
25,000,000Barclays BankBarclays Capital11/11/200803/09/200803/03/207863.9906.90003/12/2010Butlers/SectorN/AIndex linked range LOBO - see contract for details
15,000,000Merrill LynchFMS Wertmanagement05/12/200719/12/200719/12/2057604.39019/12/2012Butlers/SectorN/A
10,000,000Barclays BankBarclays Bank06/11/200706/11/200806/11/2078603.95006/11/2009Butlers/SectorN/A
20,000,000Dexia Credit LocalDexia Public Finance Bank29/07/200805/08/200805/08/207864.09005/08/2011Butlers/SectorN/A
35,000,000Barclays BankBarclays Bank31/07/200801/09/200801/09/207863.9004.65001/09/2011Butlers/SectorN/AIndex linked range LOBO - see contract for details
5,000,000Barclays BankBarclays Bank11/11/200803/12/200803/12/207860.1007.60003/12/2010Butlers/SectorN/AIndex linked range LOBO - see contract for details
10,000,000Barclays BankBarclays Bank11/11/200803/12/200903/12/207860.1007.60003/12/2010Butlers/SectorN/AIndex linked range LOBO - see contract for details
30,000,000Barclays BankBarclays Bank11/11/200803/12/200803/12/207867.60003/12/2010Butlers/SectorN/A
35,000,000Barclays BankBarclays Bank31/07/200801/09/200801/09/207963.9004.65001/09/2011Butlers/SectorN/AIndex linked range LOBO with extra option at 1/9/2009- see contract for details
25,000,000Royal Bank of ScotlandRoyal Bank of Scotland10/07/200911/01/201011/01/20606011/01/2015Butlers/SectorN/AInverse floater with additional step - 2% from 12/1/10 to 12/1/12 then 8.65% minus GBP-ISDA Swap
25,000,000Royal Bank of ScotlandRoyal Bank of Scotland10/07/200904/01/201004/01/20606004/01/2015Butlers/SectorN/AInverse floater with additional step - 2% from 4/1/10 to 4/1/12 then 8.6% minus GBP-ISDA Swap
25,000,000Royal Bank of ScotlandRoyal Bank of Scotland31/07/200926/02/201026/02/20601226/02/2020Butlers/SectorN/AInverse floater with additional step - 3% from 26/2/10 to 26/2/11 then 8.98% minus GBP-ISDA Swap
25,000,000Royal Bank of ScotlandRoyal Bank of Scotland31/07/200903/01/201003/01/20601203/01/2020Butlers/SectorN/AInverse floater with additional step - 3% from 4/1/10 to 4/1/11 then 8.98% minus GBP-ISDA Swap
25,000,000Royal Bank of ScotlandRoyal Bank of Scotland07/08/200901/02/201001/02/20601201/02/2020Butlers/SectorN/AInverse floater with additional step - 3% from 2/2/10 to 2/2/11 then 8.85% minus GBP-ISDA Swap
25,000,000Royal Bank of ScotlandRoyal Bank of Scotland07/08/200925/01/201025/01/20601225/01/2020Butlers/SectorN/AInverse floater with additional step - 3% from 26/1/10 to 26/1/11 then 8.85% minus GBP-ISDA Swap


LOBO Loan contracts as PDFs

All contracts on Google Drive


Sources of information




Blog posts about this council

One thought on “Newham Council and the LOBO loan scandal

  1. When i complete this enquiry by typing Birmingham City into the search window on the LOBO search page , no information appears. Why is this?

Leave a Reply

Your email address will not be published. Required fields are marked *