NE Scotland, Orkney & Shetland

Aberdeen City Council leader opens London Stock Exchange

Council leader Jenny Laing's invitation followed a "landmark" bond listing Image copyright Aberdeen City Council

The Aberdeen City Council leader has performed the official opening of the market at the London Stock Exchange.

The council said the invitation was made after the authority became the first in Scotland to issue bonds on the stock exchange, worth £370m.

That followed credit rating agency Moody's assigning Aberdeen an Aa2 rating.

Council leader Jenny Laing travelled to the event with finance convenor Willie Young and six officials.

'Taken the lead'

The council said the money would go towards infrastructure schemes as part of its capital plan.

It has the backing of the Scottish government, which believes other councils could go down a similar route.

Nikhil Rathi, chief executive officer of London Stock Exchange plc, said: "Becoming the first Scottish council to list a bond, Aberdeen City Council has taken the lead in accessing the capital markets to support Aberdeen's future growth and development.

"We are delighted to welcome Aberdeen City Council to open trading today to celebrate the landmark bond listing."

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