Section one: Contracting authority
one.1) Name and addresses
Darlington College
Central Park, Haughton Road
Darlington
DL1 1DR
Telephone
+44 1376511411
Fax
+44 1376515970
Country
United Kingdom
NUTS code
UK - United Kingdom
Internet address(es)
Main address
Buyer's address
one.4) Type of the contracting authority
Body governed by public law
one.5) Main activity
Education
Section two: Object
two.1) Scope of the procurement
two.1.1) Title
Darlington College - Refinancing of Bank Borrowing
Reference number
CA8094 -
two.1.2) Main CPV code
- 66110000 - Banking services
two.1.3) Type of contract
Services
two.1.4) Short description
Darlington College is seeking an Organisation regulated by the PRA and FCA to refinance its bank 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: £90,000
two.2) Description
two.2.3) Place of performance
NUTS codes
- UKC13 - Darlington
Main site or place of performance
Darlington
two.2.4) Description of the procurement
Darlington College is seeking an Organisation regulated by the PRA and FCA to refinance its bank borrowing.
• An organisation with experience of lending to the UK education sectors
• A organisation that will provide a nominated relationship manager and service team that has experience of the UK FE sector.
• The ability to provide a fully credit and pricing backed proposal to this ITT
• Able to complete the refinance/restructure of existing borrowing by 10 May 2021
• An online provision to meet the needs of the college
The College is considering refinancing its bank borrowing into one of the following 3 structures and seeks pricing and terms for each:
Option 1, a £3m 5-year amortising loan with a 10-year repayment profile, option 2, a £3m Revolving Credit Facility over 5 years, option 3 a £3m Revolving Credit Facility over 3 years.
two.2.5) Award criteria
Quality criterion - Name: Proposed Financial Covenants / Weighting: 30.00%
Quality criterion - Name: Meeting the college’s requirements within the specification / Weighting: 25.00%
Quality criterion - Name: How the organisation limits its impact on the environment / Weighting: 5.00%
Cost criterion - Name: Cost / Weighting: 40.00%
two.2.11) Information about options
Options: No
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: 2020/S 249-622767
Section five. Award of contract
Contract No
CA8094
Title
Darlington College - Refinancing of Bank Borrowing
A contract/lot is awarded: Yes
five.2) Award of contract
five.2.1) Date of conclusion of the contract
20 July 2021
five.2.2) Information about tenders
Number of tenders received: 1
The contract has been awarded to a group of economic operators: No
five.2.3) Name and address of the contractor
Barclays Bank PLC
1 Churchill Place,
LONDON
E14 5HP
megan.leatherland@barclays.com
Telephone
+44 3301528811
Country
United Kingdom
NUTS code
- UK - United Kingdom
Internet address
The contractor is an SME
No
five.2.4) Information on value of contract/lot (excluding VAT)
Total value of the contract/lot: £90,000
Section six. Complementary information
six.3) Additional information
Section II.3) – dates refer to the initial contract period and do not include the options of any extensions.
Section IV.3.5) – any dates shown are an estimate.
In the first instance, candidates should register with www.multiquote.com and express an interest in the contract, full details of the contract will be available.
The Contracting Authority shall not be under any obligation to accept any tender. The Contracting Authority reserves the right to cancel the entire or parts of the tender, without such an action conferring any right to compensation on the Tenderers.
The Contracting Authority has no liability to settle any cost incurred by the tenderer as a result of the tendering procedure.
six.4) Procedures for review
six.4.1) Review body
Tenet
Procurement House, 23 Leslie Hough Way
Salford
M6 6AJ
Country
United Kingdom
six.4.3) Review procedure
Precise information on deadline(s) for review procedures
The authority will incorporate a minimum 10 calendar day standstill period at the point that information on the award of the contract is communicated to tenderers. If an appeal regarding the award of contract has not been successfully resolved then the Public Contracts Regulations 2015 provide for aggrieved parties who have been harmed or are at risk of harm by breach of the rules to take action in the High Court. Any such action must be brought promptly (generally within 3 months).