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    ContractsScottish Government Bond Legal Counsel Services
    Awarded contract

    Scottish Government Bond Legal Counsel Services

    Awarded
    £900k
    Published 25 Jun 2026

    Scottish Government seeks external legal counsel to support a GBP 1.5 billion sterling bond issuance programme, with debut issuance anticipated for late 2026 or early 2027.

    🇬🇧United Kingdom· ScotlandPublished 25 Jun 2026· 4 months agoviaFind a Tender
    Awarded
    £900k
    Published 25 Jun 2026

    Decision brief

    4 fields
    • Contract value
      £900,000
      Pounds sterling
    • Closing date
      Not published
      No closing date published
    • Sector
      Professional Services
      Browse related listings
    • Location
      🇬🇧United Kingdom
      Scotland

    Suppliers

    1 supplier
    • CC
      Clifford Chance LLP
    Lead contractor

    Lifecycle

    Awarded

    Contract awarded. Originally published 4 months ago.

    25 June 2026
    Awarded — no open tender advertised

    Brief

    The Scottish Government is seeking external legal counsel to support the issuance of sterling public bonds. This follows the assignment of inaugural credit ratings (Aa3 by Moody's and AA by Standard & Poor's) and reflects updated capital borrowing policy under the revised Fiscal Framework. The Scottish Government has annual borrowing limits of GBP 450 million and a cumulative limit of GBP 3 billion, increased in line with inflation through the 2023 Fiscal Framework review. A GBP 1.5 billion bond programme is expected to commence over the next parliament, with a debut benchmark bond issuance anticipated for late 2026 or early 2027, subject to Scottish Parliament election outcomes, borrowing requirements, and market conditions. Key objectives include diversifying capital funding sources, enhancing fiscal sustainability, raising Scotland's profile among financial investors, and developing institutional fiscal discipline. Legal counsel will play a critical role in structuring and executing bond issuances, ensuring compliance with regulatory requirements, and managing documentation and legal due diligence throughout the issuance process.

    Track record

    8 awards · 8 winners
    Open field

    No single supplier dominates the field.

    In professional services, Scottish Government has awarded 8 contracts to 8 suppliers.

    Who wins here
    1. Global Connections (Scotland) Ltd1× · 13%
    2. Jump Research1× · 13%
    3. Union Direct1× · 13%
    4. Clifford Chance LLP1× · 13%
    5. Smarts1× · 13%
    6. Arteus Ltd1× · 13%

    +2 more suppliers

    Across professional services, the most active winners are REED SPECIALIST RECRUITMENT LIMITED, PROMAR INTERNATIONAL, KPMG LLP — the field to beat, or your route in as a partner.

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    Take action
    View on sourceFind a Tender

    Award notice and full record on the publisher's site

    Publisher
    UK Cabinet Office
    Licence
    OGL v3.0
    Source
    find-tender.service.gov.uk
    Record ID
    ocds-h6vhtk-05f137

    Your fit

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    This went to Clifford Chance LLP. Sonar reads Scottish Government's work like this against your business — who holds it, and whether you could compete or partner next time.

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    SG
    Buyer
    Scottish Government
    Sector
    Professional Services