Scottish Government meetings with banks or financial service providers: FOI release

Information requested

1. If the Scottish Government, its agents or representatives have approached banks or other financial services providers to investigate the option of the Scottish Government issuing debt in the capital markets, or obtaining a loan in another form? If so, was pricing of such debt discussed?

2. I would also like to know whether the Scottish Government has discussed the possibility of obtaining such a loan or issuing debt with the UK Government?

Response

Firstly I would like to apologise profusely for the delay in getting a response to you. The answer to your questions are below;

1. The Scottish Government met with the following banks/financial services providers to discuss issuing debt and/or obtaining a loan in another form. Below is a list of those meetings;

2015	Meeting	Subject
30-Jun	Lloyds Banking Group	General borrowing. No price of debt discussed.
27-Jul	London Stock Exchange	Retail bond issuance
2016	Meeting	Subject
30-Mar	HSBC	General borrowing
26-Jul	London Stock Exchange	Retail bond issuance

2. The Scottish Government has discussed the possibility of obtaining such a loan with the UK Government (via the National Loans Fund). The Medium Term Financial Strategy (MTFS) published by the Scottish Government provides detail on existing borrowing and future borrowing plans. I have provided a link to the latest MTFS below which I hope will be helpful to you.
The Scottish Government's Medium Term Financial Strategy - gov.scot (www.gov.scot).

About FOI

The Scottish Government is committed to publishing all information released in response to Freedom of Information requests. View all FOI responses at http://www.gov.scot/foi-responses.