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BidSonar is an independent index of public-sector opportunities. We aggregate data from official sources and are not affiliated with any procurement body. Data is licensed under the Open Government Licence v3.0 and the EU TED reuse notice.

    ContractsScottish Government Bond Issuance Service Providers
    Awarded contract

    Scottish Government Bond Issuance Service Providers

    Awarded
    £5m
    Published 25 Jun 2026

    The Scottish Government is appointing bond bookrunners to support the issuance of up to GBP 1.5 billion in sterling bonds commencing in late 2026, following recent credit rating upgrades.

    🇬🇧United Kingdom· ScotlandPublished 25 Jun 2026· 4 months agoviaFind a Tender
    Awarded
    £5m
    Published 25 Jun 2026

    Decision brief

    4 fields
    • Contract value
      £5,000,000
      Pounds sterling
    • Closing date
      Not published
      No closing date published
    • Sector
      Financial Services
      Browse related listings
    • Location
      🇬🇧United Kingdom
      Scotland

    Suppliers

    9 suppliers
    • BS
      Banco Santander, S.A., London Branch
    Lead contractor
  1. ML
    Merrill Lynch International
    Consortium partner
  2. HB
    HSBC Bank plc
    Consortium partner
  3. DB
    Deutsche Bank AG, London Branch
    Consortium partner
  4. SC
    Standard Chartered Bank
    Consortium partner
  5. RE
    RBC Europe Limited
    Consortium partner
  6. NM
    NatWest Markets Plc
    Consortium partner
  7. BB
    BARCLAYS BANK PLC
    Consortium partner
  8. CG
    Citigroup Global Markets Limited
    Consortium partner
  9. Lifecycle

    Awarded

    Contract awarded. Originally published 4 months ago.

    25 June 2026
    Awarded — no open tender advertised

    Brief

    The Scottish Government is seeking service providers to support the issuance of sterling public bonds as part of its capital borrowing programme. Nine external bond bookrunners have been appointed to assist with accessing the sterling bond market. The Scottish Government has increased capital borrowing limits under the 2023 Fiscal Framework review and plans to issue up to GBP 1.5 billion in bonds over the next parliament, with the first benchmark bond issuance anticipated for late 2026 or early 2027. Key objectives include diversifying capital funding sources, enhancing fiscal sustainability, raising Scotland's profile among investors, and developing institutional fiscal discipline. The Scottish Government recently received inaugural credit ratings from Moody's Investors Service (Aa3) and Standard & Poor's (AA), both with stable outlooks, reflecting the strength of Scotland's economy and prudent financial management. If you are a financial institution or service provider experienced in bond issuance, capital markets, or financial advisory services, this opportunity may be relevant to your business. Interested parties should monitor the Scottish Government's procurement channels for formal tender processes related to bond issuance services.

    Track record

    2 awards · 2 winners
    Open panel

    Mostly framework call-offs rather than head-to-head competition.

    In financial services, Scottish Government has awarded 2 contracts to 2 suppliers.

    Who wins here
    1. Banco Santander, S.A., London Branch1× · 50%
    2. The Royal Bank of Scotland1× · 50%

    Across financial services, the most active winners are ARTHUR J GALLAGHER INSURANCE BROKERS LTD, ALLPAY LTD, ECCLESIASTICAL INSURANCE OFFICE PUBLIC LIMITED COMPANY — 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-05f12f

    Your fit

    Could you win the next one?

    This went to Banco Santander, S.A., London Branch. 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
    Financial Services