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Contract signedServicesFramework agreement

DFSED-SG Bond Bookrunners

Published
Published 25 June 2026

Overview

The Scottish Government has awarded a contract to nine bond bookrunners (Banco Santander, Barclays Bank, Citigroup Global Markets, Deutsche Bank, HSBC Bank, Merrill Lynch International, NatWest Markets, RBC Europe, and Standard Chartered Bank) to provide financial advisory and underwriting services for accessing the sterling public bond market. The Scottish Government plans to issue up to GBP 1.5 billion in bonds over the next parliament, with a debut benchmark issuance anticipated for late 2026 or early 2027, to diversify capital funding sources and enhance fiscal sustainability.

Key details

Country
Unknown
Status
Contract signed
Category
Services
Procedure
Open
Contract type
Framework agreement
Published
25 June 2026
Classification (CPV)
Banking and investment servicesBanking servicesInvestment banking services and related services

Award outcome

Awarded value
£5,000,000
Award date
18 June 2026
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

  2. Contract

    25 June 2026

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    25 June 2026

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    25 June 2026

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    25 June 2026

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    25 June 2026

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    25 June 2026

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    25 June 2026

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    25 June 2026

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    25 June 2026

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    25 June 2026

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    25 June 2026

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    25 June 2026

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    25 June 2026

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    25 June 2026

  16. Contract

    25 June 2026

  17. Contract

    25 June 2026

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