Contract award notice
Results of the procurement procedure
Section I: Contracting
entity
I.1) Name and addresses
Scottish Government
5 Atlantic Quay, 150 Broomielaw
Glasgow
G2 8LU
UK
Contact person: Caitlin Fullarton
Telephone: +44 412425466
E-mail: caitlin.fullarton@gov.scot
NUTS: UKM
Internet address(es)
Main address: http://www.scotland.gov.uk
Address of the buyer profile: https://www.publiccontractsscotland.gov.uk/search/Search_AuthProfile.aspx?ID=AA10482
I.2) Joint procurement
The contract is awarded by a central purchasing body
I.4) Type of the contracting authority
Ministry or any other national or federal authority, including their regional or local subdivisions
I.5) Main activity
General public services
Section II: Object
II.1) Scope of the procurement
II.1.1) Title
DFSED-Financial Advisor for Scottish Government Bonds
Reference number: 746819
II.1.2) Main CPV code
66171000
II.1.3) Type of contract
Services
II.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/
II.1.6) Information about lots
This contract is divided into lots:
No
II.1.7) Total value of the procurement
Value excluding VAT:
494 975.00
GBP
II.2) Description
II.2.3) Place of performance
NUTS code:
UKM
II.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.
II.2.5) Award criteria
Quality criterion: Quality
/ Weighting: 70
Price
/ Weighting:
30
II.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.
II.2.13) Information about European Union funds
The procurement is related to a project and/or programme financed by European Union funds:
No
Section IV: Procedure
IV.1) Description
IV.1.1) Type of procedure
Open procedure
IV.1.8) Information about Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement:
Yes
IV.2) Administrative information
IV.2.1) Previous publication concerning this procedure
Notice number in the OJ S:
2025/S 000-002112
Section V: Award of contract
Contract No: 746189
A contract/lot is awarded:
Yes
V.2 Award of contract
V.2.1) Date of conclusion of the contract
07/04/2025
V.2.2) Information about tenders
Number of tenders received: 4
Number of tenders received from SMEs: 0
Number of tenders received from tenderers from 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
V.2.3) Name and address of the contractor
Ernst & Young LLP (EY)
G1 Building, 5 George Square
Glasgow
G2 1DY
UK
Telephone: +44 2079512000
NUTS: UK
The contractor is an SME:
No
V.2.4) Information on value of the contract/lot (excluding VAT)
Total value of the contract/lot:
: 494 975.00
GBP
V.2.5) Information about subcontracting
Section VI: Complementary information
VI.3) Additional information
(SC Ref:795936)
VI.4) Procedures for review
VI.4.1) Review body
Edinburgh Sheriff Court and Justice of the Peace Court
Edinburgh
EH1 1LB
UK
VI.5) Date of dispatch of this notice
10/04/2025