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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. Lyons suggests Labour's housing pledge could slip
  2. Basildon BC says devo needs local government reorganisation
  3. Labour sets new council house energy efficiency target
  4. Former mandarin to join The Future Governance Forum
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