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Cash-strapped council dumps LOBO loan

Cash-strapped Liverpool City Council is to swap £65m of loans for £107m of debt in order to cut interest payments.

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By Paul Marinko | 09 August 2021

Cash-strapped Liverpool City Council is to swap £65m of loans for £107m of debt in order to cut interest payments.

While the council hopes to save £18m in the long term it will initially have to fork out £42m in order to pay an early repayment premium on the loans with Commerzbank.

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Paul Marinko

Popular articles by Paul Marinko

  1. Local government: a case of Budget blues or burdens?
  2. Government returns to 56-day limit for asylum hotels
  3. Future Forum North - Climate risk needs to be properly considered
  4. Future Forum North - North West heads list for unregulated placements
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