Greece-Athens: Financial consultancy services
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| Title | Greece-Athens: Financial consultancy services |
| OJEU (High Value) | 459046-2020 |
| Type | Invitation to tender |
| Date Published | 2020-09-30 |
| Deadline | 2020-11-09 17:00:00 |
| Nature Of Contract | Service contract |
| Awarding Authority | |
| Procedure | Open procedure |
| Description : |
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I.1) Name and addresses: NUTS code: EL303 Communication I.3) Procurement documents (URL):www.hradf.com Additional Information I.3.4) Additional information can be obtained from: I.3.8) to the above mentioned address I.4) Type of the contracting authority: ‘Societe Anonyme’ with sole shareholder the Hellenic Corporation of Assets and Participations S.A. (HCAP) which has as sole shareholder the Hellenic Republic I.5.2) Other activity - Financial services/Asset Development Fund Request for Proposals to Act as Financial Advisor to the Hellenic Republic Asset Development Fund (‘HRADF’) for the Concession of the Attica Motorway II.1.4) Short description HRADF is seeking to engage a specialized and highly experienced investment bank or a consortium of financial advisors including an investment bank (the ‘Advisor’), who fully understands the operational, commercial, financial and transactional dynamics and drivers of motorways in Europe and particularly in Greece in order to offer its assistance during the preparation and execution in relation to the concession of the Attica Motorway (the ‘Project’) and the implementation of the respective transaction (the ‘Transaction’). II.1.6) This contract is divided into lots: no NUTS code: EL30 II.1.4) Short description Within the context of the assignment, the Advisor shall provide, inter alia, the following services (the ‘Services’): A. During the preparatory phase: (a) review any relevant available data including all existing historical financial, strategic and operational work done to date relating to the Motorway; (b) determine the value of future toll revenues and other economic rights accruing from the operation of the Motorway; (c) assess the strategic, business and financial options available to HRADF regarding its privatisation objectives; (d) develop and update the appropriate financial forecasts and models as well as perform valuation and financial analysis (including sensitivity analysis); (e) identify the universe of potential investors; (f) design, prepare and coordinate all necessary procedures required for the implementation of the tender and the Transaction (eg VDD, VDR); (g) liaise and/or negotiate with the Greek State to define any possible extensions of the Motorway as well as the optimal interface arrangements with such extensions; (h) liaise with relevant regulatory bodies and assist in examining the financial implications of any possible competition and state-aid issues; (i) advise on all aspects that increase the ability of the transaction to raise debt and maximise competitive tension among prospective lenders; (j) upon request, advise HRADF on any aspects relating to the provision of a Staple Finance pakage, including inter alia, relevant structuring and negotiations resulting, if required, to the development of a staple finance term-sheet available to all prequalified investors (as per the terms of HRADF tender for the implementation of the project). In the event that the Advisor or (in case the Advisor is a consortium) one or more members of the Advisor underwrites the staple finance term-sheet (covering the debt amount offered with own funds), it shall be granted a right to match for a debt amount equal to the smaller of: (a) 40 % of the total debt of the preferred bidder for the funding of the transaction; and (b) 40 % of the stapled debt committed by the Advisor or (in the case of a consortium) by that member or members that commit stapled debt, under the staple finance term sheet, if the Advisor’s staple finance package is not selected by the preferred bidder, to whom the Motorway concession contract is awarded (assuming the preferred bidder has gained access to the terms of the stapled debt through an NDA). The Advisor and (in case of a consortium) all members of the Advisor will not be allowed to provide any other form of debt or debt security (including equity linked or other) to any of the potential investors, unless specifically allowed by HRADF; (k) submit an overall recommendation to HRADF in respect to the transaction, which will include a set of options and the Advisors’ recommendation from a strategic, business, financial and operational point of view, in relation to the proposed course of action relating to the transaction (the ‘Recommendation’). B. During the implementation phase: (a) assist in the co-ordination of the transaction process; (b) advise and assist HRADF to develop the appropriate sell story, identify any key potential investor requirements, attract proposals, offers or bids from potential investors, assess them and advise HRADF on their relative merits; (c) evaluate from a financial/business point of view any proposal made by any potential purchaser/investor, and submit their written recommendations to HRADF; (d) prepare any and all customary documentation and organize all relevant procedures required for the transaction; (e) prepare and conduct and perform all other customary services for the successful consummation of the transaction; (f) assist and advise HRADF in relation to the closing of the transaction; (g) provide to the BoD of HRADF any required presentations and recommendations justifying the proposed course of action in the different steps of implementation of the transaction up to closing. II.2.5) Award criteria: Value excluding VAT: EUR 800000.00 II.02.07) Duration in months 48 II.2.7.5) This contract is subject to renewal: yes II.2.7.6) Description of renewals: HRADF reserves the right to renew and/or extend the engagement with the Advisor in order to include complementary services, which may be required and cannot be identified today, but they shall prove either to be inseparable from the original engagement or because they are absolutely necessary for the completion of the project, in accordance with HRADF's Procurement Regulation (GG 476/B’/2014). II.2.10) Variants will be accepted: no The procurement is related to a project and/or programme financed by European Union funds): no Additional Information: The award of the assignment is subject to the conclusion of a written contract. The expressions of interest to be submitted and this invitation as well as the Advisor’s engagement letter for the assignment are governed by the laws of Greece; Any dispute arising under or out of or in connection with the latter shall be subject to the exclusive jurisdiction of the courts of Athens, Greece. III.1.2) Economic and financial standing III.1.2.2) Selection criteria as stated in the procurement documents III.1.3) Technical and professional ability III.1.3.1.2) Selection criteria as stated in the procurement documents III.2.2) Contract performance conditions The contract (or engagement letter) to be signed with the Advisor shall include, at least, the terms as stated in the request for proposals. IV.1.1) Type of procedure: Open IV.2.1) Time limit for receipt of tenders or requests to participate IV.2.2) Date 2020-11-09 IV.2.2) Local time 17:00 IV.2.7) Conditions for opening of tenders IV.2.7) Date 2020-11-11 IV.2.7) Local time 12:00 Review body: VI.04.04) Service from which information about the review Date of dispatch of this notice : 2020-09-25 |
| CPV Codes |
| 66171000; 66120000; Financial consultancy services; Investment banking services and related services; |
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