Section one: Contracting authority
one.1) Name and addresses
Scottish Government
5 Atlantic Quay, 150 Broomielaw
Glasgow
G2 8LU
Contact
Caitlin Fullarton
Telephone
+44 412425466
Country
United Kingdom
NUTS code
UKM - Scotland
Internet address(es)
Main address
Buyer's address
https://www.publiccontractsscotland.gov.uk/search/Search_AuthProfile.aspx?ID=AA10482
one.2) Information about joint procurement
The contract is awarded by a central purchasing body
one.4) Type of the contracting authority
Ministry or any other national or federal authority
one.5) Main activity
General public services
Section two: Object
two.1) Scope of the procurement
two.1.1) Title
DFSED-Financial Advisor for Scottish Government Bonds
Reference number
746819
two.1.2) Main CPV code
- 66171000 - Financial consultancy services
two.1.3) Type of contract
Services
two.1.4) Short 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/
two.1.6) Information about lots
This contract is divided into lots: No
two.1.7) Total value of the procurement (excluding VAT)
Value excluding VAT: £494,975
two.2) Description
two.2.3) Place of performance
NUTS codes
- UKM - Scotland
two.2.4) Description of the procurement
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.
two.2.5) Award criteria
Quality criterion - Name: Quality / Weighting: 70
Price - Weighting: 30
two.2.11) Information about options
Options: Yes
Description of options
Option to extend for a further two 12-month periods at the sole discretion of the Scottish Government.
two.2.13) Information about European Union Funds
The procurement is related to a project and/or programme financed by European Union funds: No
Section four. Procedure
four.1) Description
four.1.1) Type of procedure
Open procedure
four.1.8) Information about the Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement: Yes
four.2) Administrative information
four.2.1) Previous publication concerning this procedure
Notice number: 2025/S 000-002112
Section five. Award of contract
Contract No
746189
A contract/lot is awarded: Yes
five.2) Award of contract
five.2.1) Date of conclusion of the contract
7 April 2025
five.2.2) Information about tenders
Number of tenders received: 4
Number of tenders received from SMEs: 0
Number of tenders received from tenderers from other EU Member States: 0
Number of tenders received from tenderers from non-EU Member States: 4
Number of tenders received by electronic means: 4
The contract has been awarded to a group of economic operators: No
five.2.3) Name and address of the contractor
Ernst & Young LLP (EY)
G1 Building, 5 George Square
Glasgow
G2 1DY
Telephone
+44 2079512000
Country
United Kingdom
NUTS code
- UK - United Kingdom
The contractor is an SME
No
five.2.4) Information on value of contract/lot (excluding VAT)
Total value of the contract/lot: £494,975
Section six. Complementary information
six.3) Additional information
(SC Ref:795936)
six.4) Procedures for review
six.4.1) Review body
Edinburgh Sheriff Court and Justice of the Peace Court
Edinburgh
EH1 1LB
Country
United Kingdom