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Published 6 Dec 2024, 09:21 GMT

Official UK procurement notice

DFSED-Financial Advisor for Scottish Government Bonds

Official notice

Authority: Scottish Government (Central government)·Consortium: 2 public authorities

ServicesOpen procedure
Sectors: Financial and insurance services (66) Delivery: Scotland (UKM)
Published estimate£1,500,000exc. VAT · 1 value update
Submissions closed 21 Feb 2025awarded 7 Apr 2025
Awarded to Ernst & Young LLP (EY)

What is being bought

Published requirement description

As outlined in the Scottish Government Borrowing Memorandum (link below) the Scottish Government is continuing to work towards an inaugural Scottish Government Bond Issuance. For the next stage of the due diligence process the Scottish Government is seeking a financial advisor to assist in determining the specific conditions, and policy parameters, which will frame a successful Bond issuance. This will focus on, but not be limited to, the following:

  • Timing considerations for an inaugural issuance given market conditions and related events.
  • The frequency of issuances to best meet Scottish Government fiscal and economic objectives.
  • Consideration of formal “Use of Proceeds” such as “Green Bonds”.

The link to the Scottish Government Borrowing Memorandum is: www.gov.scot/publications/scottis… ↗

CPV: Financial consultancy services

The lotProcurement structure

single lot · no lot value published
Lot #1The Service Provider will provide The Purchaser with independent advice on (1)…AwardedRenewal

The Service Provider will provide The Purchaser with independent advice on (1) evaluating the merits of, and (2) undertaking all the preparatory steps required for, the issue of an inaugural credit rating(s) and a public, listed bond. For the avoidance of doubt, the appointment will not include the role of bookrunning of any such bond issue.

Delivery: Scotland
Extensions: Option to extend for a further two 12-month periods at the sole discretion of the Scottish Government. · Option to extend for a further two 12-month periods at the sole discretion of the Scottish Government.Variant bids: not allowed

What it takes to win
i

How this buyer will score bids.

The evaluation criteria and weights exactly as published on the notice, grouped by family (price, quality, social value and so on).

Evaluation split and conditions of participation as published; the tender pack may add more
How bids were scored
Quality: 70%Price: 30%
Published award criteria (2)
  • Quality: 70
  • Price: 30
Conditions of participation2
  • Economic & financial standing

    4B.4 -The bidder confirms the name, value and/or range of the financial ratios specified in the relevant Contract Notice.

    4B.5 - The Bidder confirms they already have or can commit to obtain, prior to the commencement of the contract, the levels of insurance cover indicated in the relevant Contract Notice.

    Minimum: 4B.4 - Bidders must demonstrate a Current Ratio of no less than 1.0. Current Ratio will be calculated as follows: Total current assets divided by Total current liabilities. There must be no qualification or contra-indication from any evidence provided in support of the bidders ec…
  • Technical & professional ability

    4C.4 - Provide a statement of the relevant supply chain management and/or tracking systems used.

    4C.7 - Provide details of the environmental management measures which the bidder will be able to use when performing the contract.

    4C.10 - Provide details of the proportion (i.e. percentage) of the contract that you intend to subcontract: Bidders will be required to confirm whether they intend to subcontract and, if so, for what proportion of the contract.

    Minimum: 4C.4 - If bidders intend to use a supply chain to deliver the requirements detailed in the Contract Notice, they should confirm they have (or have access to) the relevant supply chain management and tracking systems to ensure a resilient and sustainable supply chain. This will in…
What this means for your bid
  • Price carries 30 of 100 points: a 10% discount moves about 3 points. The method statement decides this lot, not the discount.

Price arithmetic assumes straight proportional scoring; the tender pack may use another formula.

Procedure terms & legal framework

From the official record · publisher note attached
Procedure method
Open procedure
Legal basis
CELEX · 32014L0024 Public Contracts Regulations 2015 (Directive 2014/24/EU)
Procurement category
Services
Notice status
Awarded
Procurement threshold
Unspecified in notice
Regulatory regime
Standard
Commercial structure
Stand-alone contract (no framework)
Competition type
Competitive procedure
GPA / WTO covered
Yes (GPA)
Recurring procurement
No (one-off requirement)
First published
6 Dec 2024, 09:21 GMT
Last source update
10 Apr 2025, 17:20 BST
Award evaluation window
21 Feb 2025 – …
Authority reference
746819
FTS notice number
2025/S 000-014404
Classification (CPV)
Financial consultancy services
Delivery area
Scotland (UKM)
Official registry OCID
ocds-h6vhtk-04c2d0 Find a Tender
Contract terms
Electronic trading
e-invoicing allowed · electronic ordering · electronic payment

Publisher note: (SC Ref:795936)

How it was run

Official notice
Run through: Public Contracts Scotland · Who buys & how to bid on PCS
Supplier login requiredLanguage: EN
Access & registration note: Free single registration for Scotland; PCS-Tender (Jaggaer) for full bidding
Submission deadline
21 Feb 2025, 12:00 GMT
Submission channel
{"electronicSubmission"}
Accepted languages
en
Bid validity
180 days from the deadline
Bids opened
21 Feb 2025, 12:00 GMT
Detailed submission instructions & authority contactsFrom official release

www.publictendersscotland.publiccontractsscotland.gov.uk/esop/pts-host/public… ↗

Timeline

13 Jan 2025 → 10 Apr 2025 · 4 dates
  1. Next notice expected
    13 Jan 2025
  2. Submission deadline
    21 Feb 2025, 12:00 GMT
  3. Bids opened
    21 Feb 2025, 12:00 GMT
  4. Notice published
    10 Apr 2025, 17:20 BST

Notice history

7 events · 4 releases on Find a Tender · since 22 Jan 2025
  1. Published value updated to £1,500,000
    22 Jan 2025, 09:48 GMT
    was £500,000
  2. Status changed to active
    22 Jan 2025, 09:48 GMT
  3. Procurement method changed
    22 Jan 2025, 09:48 GMT
  4. Deadline published: 20 Feb 2025, 12:00 GMT
    22 Jan 2025, 09:48 GMT
  5. Deadline moved to 21 Feb 2025, 12:00 GMT
    22 Jan 2025, 10:08 GMT
    +1 days · was 20 Feb 2025, 12:00 GMT
  6. Status changed to complete
    10 Apr 2025, 17:20 BST
  7. Buyer details updated
    10 Apr 2025, 17:20 BST
Published amendments (1 · 1 deadline change)
WhenWhatBeforeAfterShift
—DeadlineTime limit · IV.2.220 Feb 202521 Feb 2025+1 d
—Bid openingConditions for opening of tenders · IV.2.721 Feb 202521 Feb 2025+0 d

Published day later than intended.

Routine re-releases (4)
  • 2024-12: 1 release · 6 Dec 2024

Commercial outcome & contract awards

Published awards, contracts and bid statistics, not a forecast
Awards 1
Awarded value £494,9751 contract exc. VAT
Bids received 4
Contracts signed 1latest 7 Apr 2025
Awarded toValueDateStatus
Ernst & Young LLP (EY)£494,975 †—Awarded

Contracts

Bid statistics published by the authority

BidsSMEVCSEValid bid range
4bids · 4 electronic · 4 from abroad0——

Contracting authority & participating public bodies

2 public bodies on the notice

Scottish Government

Contracting authorityCentral GovernmentMinistry or any other national or federal authority, including their regional or local subdivisionsGeneral public services 4 Atlantic Quay, 70 York St, Glasgow, Scotland, G2 8EAContact name, email, phone Published organisation website ↗

Dispute resolution & review bodies

  • Edinburgh Sheriff Court and Justice of the Peace CourtReview body Edinburgh

Bidders & participating suppliers

1 commercial party on the notice
  • Ernst & Young LLP (EY)Awarded supplier G1 Building, 5 George Square, Glasgow, UK, G2 1DYContact phone

Official documents & specifications

Official links; attachments are not copied

No document links were published on the notice.