The Isle of Man, the autonomous island between the UK and Ireland, is preparing to sell long-dated bonds denominated in sterling, in a deal which looks set to be marketed to investors for its rarity and high credit value.

According to bankers at Barclays Capital, which is running the deal, the Isle of Man will be raising between £150m (€246.6m) and £200m, and will put the proceeds towards developing and investing in its electricity network.