# LIBOR - SONIA Advice

> Contract award record from UK public-sector procurement sources.

## Key facts

- Public buyer: [Cabinet Office](/buyers/cabinet-office/contract-awards)
- Contract winner: [HOGAN LOVELLS INTERNATIONAL LLP](/contract-winners/hogan-lovells-international/public-sector-contract-awards)
- Award value: £36,000
- Tender value: £43,000
- Award date: 1 July 2021
- Published: 29 November 2021
- Contract start: 15 July 2021
- Contract end: 31 December 2021
- Stage: awarded
- Procurement category: services
- Notice ID: 1bee2fd9-9b6c-4b87-b8bb-8d4e97050ce0-489118
- OCID: ocds-b5fd17-d74d5893-3715-4f3b-b73a-2a364b3910fd

## Description

Provision of advice in relation to the requirement for consent to be given across a majority of the contracts in the PFI portfolio, in relation to the transition of the calculation of interest under project financing agreements, from LIBOR to SONIA, as required by the Bank of England\. The advice will be provided in relation to the requirement for consent to be given by procuring authorities in general\. Support will also be provided in the background on a pilot scheme to establish the principles on which consent should be given\.

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## Source

[View the original notice on Contracts Finder](https://www.contractsfinder.service.gov.uk/Notice/1bee2fd9-9b6c-4b87-b8bb-8d4e97050ce0-489118)