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DFSED-Financial Advisor for Scottish Government Bonds

Scottish Government

This public procurement record has 4 releases in its history.

Award

10 Apr 2025 at 01:00

OJEU - F3 - Contract Award Notice
TenderUpdate

22 Jan 2025 at 00:00

OJEU - F14 - Corrigendum
Tender

22 Jan 2025 at 00:00

OJEU - F2 - Contract Notice
Planning

06 Dec 2024 at 00:00

OJEU - F1 - Prior Information Notice
Summary of the contracting process

The Scottish Government has undergone a comprehensive public procurement process to secure a financial advisor for its inaugural Scottish Government Bond issuance. The contract was awarded to Ernst & Young LLP (EY). The procurement, classified under general public services, focused on the provision of independent financial advisory services to assist with determining specific conditions and policy parameters for the bond issuance. Significant dates in this process include the award date of 7 April 2025, with work continuing from that point. The procurement followed an open procedure, and key locations involved were Glasgow and Edinburgh within the UKM region.

This tender presents substantial opportunities for businesses specialising in financial advisory services, particularly those with expertise in government bonds and public financing. Large consultancy firms with experience in bond issuances, market conditions analysis, and economic objectives will find this tender particularly advantageous. The contract includes options for extension, providing potential for long-term engagement and growth. Given the emphasis on quality over price (70% to 30% weighting), firms with a robust track record in delivering high-quality, independent advice are well-suited to compete. The project's assignment to a renowned firm like Ernst & Young underscores the significance and scale of the opportunity.

How relevant is this notice?

Notice Information

Notice Title

DFSED-Financial Advisor for Scottish Government Bonds

Notice 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: https://www.gov.scot/publications/scottish-budget-2025-2026-scottish-government-borrowing/

Lot Information

Lot 1

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.

Options: Option to extend for a further two 12-month periods at the sole discretion of the Scottish Government.

Renewal: Option to extend for a further two 12-month periods at the sole discretion of the Scottish Government.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-r6ebe6-0000784958
Publication Source
Public Contracts Scotland
Latest Notice
https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=APR528164
Current Stage
Award
All Stages
Planning, Tender, Award

Procurement Classification

Notice Type
OJEU - F3 - Contract Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66171000 - Financial consultancy services

Notice Value(s)

Tender Value
£1,500,000 £1M-£10M
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£494,975 £100K-£500K

Notice Dates

Publication Date
10 Apr 20251 years ago
Submission Deadline
20 Feb 2025Expired
Future Notice Date
13 Jan 2025Expired
Award Date
7 Apr 20251 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Complete
Awards Status
Not Specified
Contracts Status
Active

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
Scottish Government
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
EDINBURGH
Postcode
Not specified
Postcode Area
Not specified
Country
Not specified
Major Region (ITL 1)
Not specified
Basic Region (ITL 2)
Not specified
Small Region (ITL 3)
Not specified
Delivery Location
TLM Scotland
Local Authority
Not specified
Electoral Ward
Not specified
Westminster Constituency
Not specified

Supplier Information

Number of Suppliers
1
Supplier Name

Ernst & Young LLP (EY)

Further Information

Notice Documents

  • https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=DEC519741
    DFSED-Financial Advisor for Scottish Government Bonds - 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: https://www.gov.scot/publications/scottish-budget-2025-2026-scottish-government-borrowing/
  • https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=JAN522244
    DFSED-Financial Advisor for Scottish Government Bonds - 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: https://www.gov.scot/publications/scottish-budget-2025-2026-scottish-government-borrowing/
  • https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=APR528164
    DFSED-Financial Advisor for Scottish Government Bonds - 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: https://www.gov.scot/publications/scottish-budget-2025-2026-scottish-government-borrowing/

Open Contracting Data Standard (OCDS)

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts.

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