---
title: "LIBOR - SONIA Advice"
ocid: "ocds-b5fd17-d74d5893-3715-4f3b-b73a-2a364b3910fd"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-d74d5893-3715-4f3b-b73a-2a364b3910fd"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-d74d5893-3715-4f3b-b73a-2a364b3910fd.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-d74d5893-3715-4f3b-b73a-2a364b3910fd.json"
source: "Contracts Finder"
current_stage: "Award"
buyer: "CABINET OFFICE"
published: "2021-11-29"
---

# LIBOR - SONIA Advice

Buyer: CABINET OFFICE  
Current stage: Award  
OCID: ocds-b5fd17-d74d5893-3715-4f3b-b73a-2a364b3910fd

[View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-b5fd17-d74d5893-3715-4f3b-b73a-2a364b3910fd)  
[Download OCDS JSON](https://d3tenders.com/contract/ocds-b5fd17-d74d5893-3715-4f3b-b73a-2a364b3910fd.json)

## Summary

The recent procurement process titled "LIBOR - SONIA Advice" was conducted by the Cabinet Office, focusing on the legal services industry. This selective tender aimed to provide expert advice regarding the transition from LIBOR to SONIA in project financing agreements. The tender period concluded on 1st July 2021, with the contract period set from 15th July 2021 to 31st December 2021. The total contract value was set at £43,000, with a minimum value of £36,000, based in London, United Kingdom.

This tender presents an opportunity for legal firms with expertise in financial regulations and project finance to grow their business. Companies experienced in providing legal advice related to financial instruments, particularly those familiar with the institutional requirements of transitioning interest rate calculations, would be well-suited to compete for similar contracts. Additionally, as public authorities increasingly look for specialized counsel in the evolving financial landscape, this sector is likely to grow, providing further opportunities for qualified suppliers.

## Notice

Provision of advice in relation to the requirement for consent to be given across a majority of the contracts in the PFI portfolio, in relation to the transition of the calculation of interest under project financing agreements, from LIBOR to SONIA, as required by the Bank of England. The advice will be provided in relation to the requirement for consent to be given by procuring authorities in general. Support will also be provided in the background on a pilot scheme to establish the principles on which consent should be given.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/1bee2fd9-9b6c-4b87-b8bb-8d4e97050ce0 |
| Notice type | Award Notice |
| Procurement type | Framework |
| Procurement category | Services |
| Procurement method | Selective |
| Procurement method details | Call-off from a framework agreement |
| Tender suitability | Not specified |
| Awardee scale | Large |
| All stages | Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 29 Nov 2021 |
| Submission deadline | 1 Jul 2021 |
| Future notice date | Not specified |
| Award date | 30 Jun 2021 |
| Contract period | 14 Jul 2021 - 31 Dec 2021 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £43,000 |
| Lots value | Not specified |
| Awards value | £36,000 |
| Contracts value | Not specified |

## Status

| Field | Value |
| --- | --- |
| Tender status | Complete |
| Lots status | Not specified |
| Awards status | Active |
| Contracts status | Not specified |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | CABINET OFFICE |
| Locality | LONDON |
| Post town | South West London |
| Postcode | SW1A 2AS |
| Country | England |
| ITL 1 | TLI London |
| ITL 2 | TLI3 Inner London - West |
| ITL 3 | TLI35 Westminster and City of London |
| Local authority | Westminster |
| Electoral ward | St James's |
| Westminster constituency | Cities of London and Westminster |
| Delivery location | TLI London |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | HOGAN LOVELLS INTERNATIONAL |

## CPV Codes

### Divisions

- 79 - Business services: law, marketing, consulting, recruitment, printing and security

### Codes

- 79100000 - Legal services

## Release History

- 29 Nov 2021 at 13:54 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/1bee2fd9-9b6c-4b87-b8bb-8d4e97050ce0

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/1bee2fd9-9b6c-4b87-b8bb-8d4e97050ce0
  29th November 2021 - Awarded contract notice on Contracts Finder
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/e4f19c02-f79c-4ced-a335-9dafa91be6f2

## Provenance

This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-b5fd17-d74d5893-3715-4f3b-b73a-2a364b3910fd. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-d74d5893-3715-4f3b-b73a-2a364b3910fd.json.