Find a TenderAwarded

Published 20 Jul 2021, 02:33 BST

Official UK procurement notice

Darlington College - Refinancing of Bank Borrowing

Official notice

Authority: Darlington College (Education)

ServicesOpen procedure

Sectors: Financial and insurance services (66) Delivery: North East (UKC13)

Awarded value£90,000published contract · exc. VAT

Awarded 20 Jul 2021

Awarded to Barclays Bank PLC

What is being bought

Published requirement description

Darlington College is seeking an Organisation regulated by the PRA and FCA to refinance its bank borrowing.

CPV: Banking services

The lotProcurement structure

single lot · no lot value published

Lot #1Darlington College is seeking an Organisation regulated by the PRA and FCA to…Awarded

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.

Delivery: North East · Darlington

What it takes to win
i
How this buyer will score bids.
The evaluation criteria and weights exactly as published on the notice, grouped by family (price, quality, social value and so on).

Evaluation split and conditions of participation as published; the tender pack may add more

How bids were scored

Quality: 55%Price: 40%Environmental: 5%

Published sub-criteria (4)

Proposed Financial Covenants: 30%
Meeting the college’s requirements within the specification: 25%
Cost: 40%
How the organisation limits its impact on the environment: 5%

Published award criteria (4)

Proposed Financial Covenants: 30.00%
Meeting the college’s requirements within the specification: 25.00%
How the organisation limits its impact on the environment: 5.00%
Cost: 40.00%

What this means for your bid

Price carries 40 of 100 points: a 10% discount moves about 4 points. The method statement decides this lot, not the discount.

Price arithmetic assumes straight proportional scoring; the tender pack may use another formula.

Procedure terms & legal framework

From the official record · publisher note attached

Procedure method: Open procedure
Legal basis: CELEX · 32014L0024 Public Contracts Regulations 2015 (Directive 2014/24/EU)
Procurement category: Services
Notice status: Awarded
Procurement threshold: Unspecified in notice
Regulatory regime: Standard
Commercial structure: Stand-alone contract (no framework)
Competition type: Competitive procedure
GPA / WTO covered: Yes (GPA)
Recurring procurement: Unspecified in notice
First published: 20 Jul 2021, 02:33 BST
Last source update: 20 Jul 2021, 02:33 BST
Authority reference: CA8094 -
FTS notice number: 2021/S 000-016994
Classification (CPV): Banking services
Delivery area: North East (UKC13)
Official registry OCID: ocds-h6vhtk-02c9cf Find a Tender

Review and risk notes

Review procedure: 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).

Publisher note: 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.

Commercial outcome & contract awards

Published awards, contracts and bid statistics, not a forecast

Awards 1

Awarded value £90,0001 contract exc. VAT

Bids received 1

Contracts signed 1latest 20 Jul 2021

Awarded to	Value	Date	Status
Barclays Bank PLC	£90,000 †	—	Awarded

Contracts

Darlington College - Refinancing of Bank Borrowing · Barclays Bank PLC
Signed
20 Jul 2021
Value
£90,000
Status
active

Bid statistics published by the authority

Bids	SME	VCSE	Valid bid range
1bids	—	—	—

Contracting authority & participating public bodies

Darlington College

Contracting authorityEducationBody governed by public lawEducation Central Park, Haughton Road, Darlington, UK, DL1 1DRContact email, phone

Dispute resolution & review bodies

TenetReview body Salford

Bidders & participating suppliers

1 commercial party on the notice

Barclays Bank PLCAwarded supplier 1 Churchill Place, , LONDON, UK, E14 5HPContact email, phone

Official documents & specifications

Official links; attachments are not copied

No document links were published on the notice.