Barclays restructures £5bn Lobo loans portfolio
Barclays has restructured a book of controversial local authority and housing association loans to waive its rights to amend the interest rates on the loans at given periods.
It is understood the total size of the Barclays loan book is around £5bn.
The book comprises over 100 Lender Option Borrower Option (Lobo) loans. These loans allow the lender to amend the interest rate on the facility at a certain time, and the borrower to fully repay
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