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PROCUREMENT OPPORTUNITY

DFSED-Financial Advisor for Scottish Government Bonds

Scottish Government · compiled

Tender information last checkedLast checked 29 Sept 2026, 20:23.

Opportunity overview

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/

Awarded to

Amounts belong to published awards or contracts. Where several suppliers share one value, it is labelled as shared and is not a supplier-specific allocation.

Ernst & Young LLP (EY)

Match pending…
Contract value
£495k
Awarded
Not supplied
Contract signed
6 Apr 2025
Award ID
014404-2025-746189-1
Status
active
Location
Glasgow, UK, G2 1DY, United Kingdom

Classification

  • CPV66171000 — Financial consultancy services

Lots

  • 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.Value not stated

Published notice details

Additional information from the published procurement release. Fields appear only when supplied by the source; check the original notice and tender documents before acting.

Scope, procedure and submissions

Id
746819
Status
complete
Has Recurrence
No
Procurement Method
open
Main Procurement Category
services
Procurement Method Details
Open procedure

Covered By

GPA

Amendments

Entry 1
Id
1
Description
Published day later than intended.

Unstructured Changes

Entry 1

Where

Label
Time limit
Section
IV.2.2

New Value

Date
21 Feb 2025, 12:00

Old Value

Date
20 Feb 2025, 12:00
Entry 2

Where

Label
Conditions for opening of tenders
Section
IV.2.7

New Value

Date
21 Feb 2025, 12:00

Old Value

Date
21 Feb 2025, 12:00

Bid Opening

Date
21 Feb 2025, 12:00

Legal basis

Id
32014L0024
Scheme
CELEX

Techniques

Has Electronic Auction
Yes

Expected award period

Starts
21 Feb 2025, 12:00

Tender Period

Ends
20 Feb 2025, 12:00

Communication

Future Notice Date
13 Jan 2025, 00:00

Contract terms

Has Electronic Payment
Yes
Has Electronic Ordering
Yes
Electronic Invoicing Policy
allowed

Classification

Id
66171000
Scheme
CPV
Description
Financial consultancy services

Submission terms

Languages

en

Bid Validity Period

Duration In Days
180

Submission Method

electronicSubmission

Selection criteria

Criteria

Criterion 1
Type
economic
Minimum
4B.4 - Bidders must demonstrate a Current Ratio of no less than 1.0. Current Ratio will be calculated as follows: Total current assets divided by Total current liabilities. There must be no qualification or contra-indication from any evidence provided in support of the bidders economic and financial standing. 4B.5 - Professional Risk Indemnity Insurance - 5,000,000 GBP (A sum not less than) Public Liability Insurance - 1,000,000 GBP (A sum not less than) Employees Liability Insurance - in accordance with any legal obligation
Description
4B.4 -The bidder confirms the name, value and/or range of the financial ratios specified in the relevant Contract Notice. 4B.5 - The Bidder confirms they already have or can commit to obtain, prior to the commencement of the contract, the levels of insurance cover indicated in the relevant Contract Notice.

Applies To

supplier
Criterion 2
Type
technical
Minimum
4C.4 - If bidders intend to use a supply chain to deliver the requirements detailed in the Contract Notice, they should confirm they have (or have access to) the relevant supply chain management and tracking systems to ensure a resilient and sustainable supply chain. This will include confirmation that they have the systems in place to pay subcontractors through the supply chain promptly and effectively, and provide evidence when requested of: a) their standard payment terms b) ≥95% of all supply chain invoices being paid on time (in accordance with the terms of contract) in the last financial year. If the bidder is unable to confirm (b) they must provide an improvement plan, signed by their Director, which improves the payment performance. 4C.7 - Production and submission of evidence of steps taken to build awareness of the climate emergency and consideration of how the organisation plans to respond to it. This should include details of planned projects and actions to reduce the bidder’s carbon emissions. 4C.10 - Bidders will be required to confirm whether they intend to subcontract and, if so, for what proportion of the contract.
Description
4C.4 - Provide a statement of the relevant supply chain management and/or tracking systems used. 4C.7 - Provide details of the environmental management measures which the bidder will be able to use when performing the contract. 4C.10 - Provide details of the proportion (i.e. percentage) of the contract that you intend to subcontract: Bidders will be required to confirm whether they intend to subcontract and, if so, for what proportion of the contract.

Applies To

supplier

Lots and requirements

Entry 1
Id
1
Status
cancelled
Has Options
Yes
Has Renewal
Yes
Description
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

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

Renewal

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

Award criteria

Criteria

Criterion 1
Name
Quality
Type
quality
Description
70
Criterion 2
Type
price
Description
30

Contract period

Duration In Days
720

Submission terms

Variant Policy
notAllowed

Items and delivery

Item 1
Id
1
Related Lot
1

Delivery locations

Entry 1
Region
UKM
Entry 2
Region
UKM
Entry 3
Region
UKM

Buyer, suppliers and contacts

Organisation 1
Id
GB-FTS-10601
Name
Scottish Government

Roles

buyer

Address

Region
UKM
Locality
Glasgow
Postal Code
G2 8EA
Country Name
United Kingdom
Street Address
4 Atlantic Quay, 70 York St

Details

Classifications

Entry 1
Id
MINISTRY
Scheme
TED_CA_TYPE
Description
Ministry or any other national or federal authority, including their regional or local subdivisions
Entry 2
Id
01
Scheme
COFOG
Description
General public services

Identifier

Legal Name
Scottish Government

Contact

Name
Caitlin Fullarton
Telephone
+44 412425466
Organisation 2
Id
GB-FTS-31661
Name
Edinburgh Sheriff Court and Justice of the Peace Court

Roles

reviewBody

Address

Locality
Edinburgh
Postal Code
EH1 1LB
Country Name
United Kingdom

Identifier

Legal Name
Edinburgh Sheriff Court and Justice of the Peace Court
Organisation 3
Id
GB-FTS-1538
Name
Scottish Government

Roles

buyer
centralPurchasingBody

Address

Region
UKM
Locality
Glasgow
Postal Code
G2 8LU
Country Name
United Kingdom
Street Address
5 Atlantic Quay, 150 Broomielaw

Details

Classifications

Entry 1
Id
MINISTRY
Scheme
TED_CA_TYPE
Description
Ministry or any other national or federal authority, including their regional or local subdivisions
Entry 2
Id
01
Scheme
COFOG
Description
General public services

Identifier

Legal Name
Scottish Government

Contact

Name
Caitlin Fullarton
Telephone
+44 412425466
Organisation 4
Id
GB-FTS-1666
Name
Ernst & Young LLP (EY)

Roles

supplier

Address

Region
UK
Locality
Glasgow
Postal Code
G2 1DY
Country Name
United Kingdom
Street Address
G1 Building, 5 George Square

Details

Scale
large

Identifier

Legal Name
Ernst & Young LLP (EY)

Contact

Telephone
+44 2079512000

Award information

Award 1
Id
014404-2025-746189-1
Status
active

Suppliers

Supplier 1
Id
GB-FTS-1666
Name
Ernst & Young LLP (EY)

Related lots

1

Contracts and changes

Entry 1
Id
014404-2025-746189-1
Status
active
Award ID
014404-2025-746189-1
Date Signed
7 Apr 2025, 00:00

Value

Amount
494,975
Currency
GBP

Recorded locations

  • Buyer location · Glasgow · UKM · G2 8LU · United Kingdom
  • Delivery location · UKM

Notice and amendment history

1 published notice version reviewed by ProcuraAxis.

1 VERSION
  1. ocds-h6vhtk-04c2d0-2025-04-10T17:20:10+01:00compiled ·