Scotland’s Debut Bonds Have Bankers Jostling for £5 Million Fees

Banks and law firms are jostling for fees to help the Scottish government launch its debut bond program.

The expected contract value for banks selected to assist Scotland “in accessing the sterling public bond market” is £5 million ($6.9 million), according to a tender published by the Scottish government on Wednesday. The equivalent figure for a legal advisor is £1.8 million, according to a separate notice.