Advisory services to review foreign-exchange and interest-rate risk hedging policies and strategies

Summary

Aena is procuring advisory services to review and strengthen its foreign-exchange and interest-rate risk hedging policies and strategies. The work must build on Aena’s existing governance framework and hedging practices and compare them with market best practice. Deliverables include a review and diagnosis of the current governance framework, an updated map of currency and interest-rate exposures, proposed updates to the hedging policy and internal procedures, a revised quantitative Excel model covering effectiveness, CVA/DVA and a dashboard, specific hedging proposals, and proposed risk-management wording for the 2026 annual accounts. Initial deliverables are due within 30 days and the remaining main deliverables within 90 days of contract award. The contract runs for six months with no extension. The estimated value is €125,000 excluding taxes and the budget including taxes is €151,250. Bidders must demonstrate at least three relevant financial advisory engagements and the specified team experience, and submit a service-specific methodology, action plan and details of key personnel’s qualifications and experience. Technical evaluation is worth 100 points, with a mandatory minimum of 75; methodology is worth 40 points, the action plan 20 and the team 40. The tender must include a signed declaration unconditionally accepting the technical requirements and the tender conditions. Offers must be submitted electronically. A provisional tender guarantee of €3,750 is required; the successful bidder must also provide a final guarantee equal to 5% of its tender price excluding taxes. Professional liability insurance with a minimum indemnity limit of €600,000 per claim is required during contract performance.