National Grid Group, the UK electricity network operator, sold £600m ($846.95m) worth of sterling-denominated bonds less than two weeks after its French counterpart, Electricité de France, embarked on a similar sterling sale.

Morgan Stanley and Royal Bank of Scotland on Tuesday began selling a three-tranche sterling bond issue for National Grid, in three different maturities. At the end of last month, Barclays Capital and UBS Warburg sold a 30-year sterling bond deal for EdF, which raised £650m as a result.