Scotland Kicks Off Search for Banks to Steer Debut Bond Sale

The Scottish government started a search for banks and lawyers to run its debut bond sales, which the ruling party plans to pursue if it remains in power following elections in May.

First Minister John Swinney said procurement for lead managers and legal advisers will commence this week. The selected firms will work with officials on a £1.5 billion ($2.1 billion) program over five years, subject to the outcome of the Scottish parliamentary election.