Aberdeen City Council has launched a process which may result in the issue of a bond to support a transformational £1 billion capital programme.
Assuming it proceeds to market, Aberdeen will become the first local authority in Scotland to raise funds through the capital markets.
As part of a strategy to maintain a diversified funding portfolio providing greater financial flexibility, applications will be made to the UK Listing Authority for the bonds to be admitted to the Official List and to the London Stock Exchange.
Aberdeen City Council became the first local authority in Scotland to be assigned a credit rating earlier this month.
The proceeds from the bond issue will be used to drive a capital programme which includes investment in vital infrastructure throughout the city.
This includes the comprehensive City Centre Masterplan, school and housing developments, roads construction, digital enhancements and a variety of key projects designed to act as a catalyst for economic growth.
Council leader Jenny Laing said: “The prospect of a bond issue has the potential to be one of the most significant events in the history of our city.”