Darlington College — Refinancing of Bank Borrowing

A Contract Award Notice
by DARLINGTON COLLEGE

Source
OJEU
Type
Contract (Services)
Duration
5 year (est.)
Value
£90K
Sector
BUSINESS
Published
23 Jul 2021
Delivery
To 23 Jul 2026 (est.)
Deadline
n/a

Concepts

Location

Darlington

Geochart for 2 buyers and 1 suppliers

2 buyers

1 supplier

Description

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

Total Quantity or Scope

• 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 GBP 3 000 000 5-year amortising loan with a 10-year repayment profile, option 2, a GBP 3 000 000 Revolving Credit Facility over 5 years, option 3 a GBP 3 000 000 Revolving Credit Facility over 3 years.

Award Detail

1 Barclays Bank (London)
  • Darlington College — Refinancing of Bank Borrowing
  • Reference: ca8094
  • Num offers: 1
  • Value: £90,000

Award Criteria

Proposed financial covenants 30.0
Meeting the college’s requirements within the specification 25.0
How the organisation limits its impact on the environment 5.0
Cost 40.0

CPV Codes

  • 66110000 - Banking services

Indicators

  • Award on basis of price and quality.

Other 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.

Reference

Domains