---
title: "DFSED-SG Bond Legal Counsel"
ocid: "ocds-h6vhtk-05f137"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-h6vhtk-05f137"
markdown_url: "https://d3tenders.com/contract/ocds-h6vhtk-05f137.md"
json_url: "https://d3tenders.com/contract/ocds-h6vhtk-05f137.json"
source: "Find A Tender Service"
current_stage: "Award"
buyer: "SCOTTISH GOVERNMENT"
published: "2026-06-25"
---

# DFSED-SG Bond Legal Counsel

Buyer: SCOTTISH GOVERNMENT  
Current stage: Award  
OCID: ocds-h6vhtk-05f137

[View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-h6vhtk-05f137)  
[Download OCDS JSON](https://d3tenders.com/contract/ocds-h6vhtk-05f137.json)

## Summary

The Scottish Government has successfully completed the procurement process for appointing a legal adviser, Clifford Chance LLP, to support its entry into the sterling public bond market. This contract, valued at £900,000, focuses on providing legal services essential for a debut public bond issuance. The procurement process was concluded with an active contract awarded as of 18th June 2026. The initiative is part of a broader £1.5 billion bond programme aimed at diversifying funding sources and enhancing fiscal sustainability. This procurement falls under the services category and pertains to legal services. The contract involves the buyer's headquarters located at Victoria Quay, Edinburgh, serving the UKM region. The procurement method utilised was an open procedure, signifying transparency and broad opportunity for competition.

This tender provides significant opportunities for businesses, particularly large legal firms with expertise in financial and legal consultancy related to public bond issuance. Companies can leverage this opportunity to establish or strengthen their presence in the public sector consulting space. As Scotland aims to bolster its fiscal profile and diversify its capital funding sources, there is potential for long-term partnership and further consultancy opportunities for businesses capable of navigating the complexities of public market regulations. This opportunity is ideally suited for enterprises with proven experience in managing large-scale financial transactions and adherence to stringent regulatory and legal requirements. The successful legal advisor will play a crucial role in shaping Scotland's fiscal strategies, presenting ample opportunities for growth and influence in the financial sector.

## Notice

The Scottish Government has appointed an external service providers to assist in accessing the sterling public bond market. From 2016, the Scottish Government's annual limit for Capital Borrowing has been GBP 450 million, with a cumulative limit of GBP 3 billion. The 2023 Fiscal Framework review increased these limits in line with inflation, and the Scottish Government has been reviewing its capital borrowing policy options under these new limits. On 4 December 2024, the Scottish Government published a memorandum detailing the outcome of the initial due diligence and its updated capital borrowing policy in the context of the revised Fiscal Framework limits. The key objectives for the issuance of bonds includes diversifying capital funding sources, enhancing fiscal sustainability, raising Scotland's profile among financial investors, and developing institutional fiscal discipline. On 12th November 2025 Moody's Investors Service and Standard & Poor's assigned inaugural credit ratings for the Scottish Government of Aa3/AA respectively, both with a stable outlook. The strength and diversity of Scotland's economy, its strong institutional framework, as well as the Scottish Government's prudent financial management and low levels of debt are factors highlighted in the agencies' reports. A GBP 1.5 billion programme is expected to commence over the next parliament, with a debut benchmark bond issuance currently anticipated for late 2026 or early 2027, subject to the outcome of the Scottish Parliament election, in-year borrowing requirements and market conditions.

### Lot Information

Lot 1

The Legal Adviser will provide SG with support on all relevant legal and regulatory requirements related to a debut public listed bond issue.

Renewal: To be confirmed pre-contract award.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Find A Tender Service |
| Latest notice | https://www.find-tender.service.gov.uk/Notice/059807-2026 |
| Notice type | Planning Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Open |
| Procurement method details | Open procedure |
| Tender suitability | Not specified |
| Awardee scale | Large |
| All stages | Planning, Tender, Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 25 Jun 2026 |
| Submission deadline | 27 Feb 2026 |
| Future notice date | 19 Jan 2026 |
| Award date | 17 Jun 2026 |
| Contract period | Not specified |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £1,800,000 |
| Lots value | Not specified |
| Awards value | Not specified |
| Contracts value | £900,000 |

## Status

| Field | Value |
| --- | --- |
| Tender status | Complete |
| Lots status | Cancelled |
| Awards status | Active |
| Contracts status | Active |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | SCOTTISH GOVERNMENT |
| Locality | GLASGOW |
| Post town | Glasgow |
| Postcode | G2 8LU |
| Country | Scotland |
| ITL 1 | TLM Scotland |
| ITL 2 | TLM1 East Central Scotland |
| ITL 3 | TLM13 City of Edinburgh |
| Local authority | City of Edinburgh |
| Electoral ward | Leith |
| Westminster constituency | Edinburgh North and Leith |
| Delivery location | TLM Scotland |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | CLIFFORD CHANCE |

## CPV Codes

### Divisions

- 79 - Business services: law, marketing, consulting, recruitment, printing and security

### Codes

- 79100000 - Legal services

## Release History

- 25 Jun 2026 at 11:15 - Award - Award Notice - https://www.find-tender.service.gov.uk/Notice/059807-2026
- 28 Jan 2026 at 14:01 - Tender - Tender Notice - https://www.find-tender.service.gov.uk/Notice/007629-2026
- 8 Dec 2025 at 17:13 - Planning - Planning Notice - https://www.find-tender.service.gov.uk/Notice/080813-2025

## Notice URLs

- http://www.scotland.gov.uk
- https://api.publiccontractsscotland.gov.uk/v1/Notice?id=ocds-r6ebe6-0000817584
- https://api.publiccontractsscotland.gov.uk/v1/Notice?id=ocds-r6ebe6-0000821862
- https://www.publiccontractsscotland.gov.uk/search/Search_AuthProfile.aspx?ID=AA10482
- https://www.publictendersscotland.publiccontractsscotland.gov.uk

## Provenance

This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-h6vhtk-05f137. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-h6vhtk-05f137.json.