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In deliveryUnited KingdomServicesFramework agreement£5,000,000

DFSED-SG Bond Bookrunners

Published
Published 8 December 2025
Deadline
Closed 16 February 2026

Overview

The Scottish Government has appointed nine financial institutions as bond bookrunners to assist with accessing the sterling public bond market, with a contract value of GBP 5 million awarded on 17 June 2026. The Scottish Government plans to issue bonds under a GBP 1.5 billion programme to diversify capital funding sources and enhance fiscal sustainability, with a debut benchmark issuance anticipated for late 2026 or early 2027. The appointed bookrunners are Banco Santander, Barclays Bank, Citigroup Global Markets, Deutsche Bank, HSBC Bank, Merrill Lynch International, NatWest Markets, RBC Europe, and Standard Chartered Bank.

Key details

Country
United Kingdom
Status
In delivery
Category
Services
Estimated value
£5,000,000
Procedure
Open
Contract type
Framework agreement
Published
8 December 2025
Deadline
Closed
Classification (CPV)
Banking and investment servicesBanking servicesInvestment banking services and related services

Award outcome

Awarded value
£5,000,000
Award date
17 June 2026
Contract period
— → 27 May 2030
Winners
  • Banco Santander, S.A., London Branch
  • Barclays Bank PLC
  • Citigroup Global Markets Limited
  • Deutsche Bank AG, London Branch
  • HSBC Bank plc
  • Merrill Lynch International
  • NatWest Markets Plc
  • RBC Europe Limited
  • Standard Chartered Bank

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Notice history

Every published notice in this contracting process, newest first.

  1. Contract

    25 June 2026

    View notice ↗
  2. Contract Notice

    28 January 2026

    View notice ↗
  3. Prior Information Notice

    8 December 2025

    View notice ↗

Contracting authority

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Awarded: DFSED-SG Bond Bookrunners — won by Banco Santander, S.A., London Branch +8 — Skim