The semi-autonomous Scottish Government has started discussions with institutional investors as it ‌prepares its debut bond sale, according to Reuters, citing “three people familiar with the plans.”

The move follows last ​month’s re-election of the Scottish National Party.

The Scottish Government has said it plans to sell an initial £1.5 billion of bonds to help fund important infrastructure plans.

Bonds, debt securities, are a routine form of borrowing for sovereign and sub-sovereign governments around the world, as well as local authorities, private and public companies, and quasi-government entities.

Aberdeen City Council completed a successful £370 million bond sale via the London Stock Exchange in 2017 in a first for a Scottish council.

A call with investors about the Scottish Government bonds was scheduled for last Friday, two of the sources said.

The Scottish government said in a response to questions from Reuters that its preparations for the bond launch “included meeting representative industry ​bodies and their members to inform the development of our plans.”

Reuters said a spokesperson added that the process of appointing bankers and legal advisers to oversee the bomd sale was expected to conclude shortly.

Moody’s has rated the Scottish Government as Aa3 and S&P Global has rated it as AA, both identical to the UK’s Sovereign rating and higher than major European and global economies.

Reuters said Friday’s investor call was arranged by the Investment Association, a trade association for UK institutional investors. The IA declined to comment.

Aaron Rock, head of rates at Aberdeen Investments, said he thought the bonds would be well received “in principle” when they happen.