The IDA issues this Request for Qualifications (the “RFQ”) for qualified professional services firms to serve as a financial advisor for the IDA’s operations, on an as needed basis (the “Services”). It is anticipated that the IDA will identify a short list of qualified firms to provide the Services on an as needed basis.
Scope of Services
The Services to be furnished pursuant to this RFQ shall include, but are not limited to, the following:
- Review the financing structure to ensure that any potential risk of default is identified, in order to protect the IDA’s reputation as a diligent conduit issuing authority;
- Review the proposed finance team members (e.g. Bond Counsel, Trustee, etc.) to ensure that each member is experienced and well-regarded (failure to do so could possibly impact the sale of underlying bonds), as well as review the reasonableness of any team member’s proposed fees and expenses;
- Review the borrower’s financing timeline to determine the likelihood of closing on schedule;
- Be available to participate in all document-drafting meetings and conference calls, as directed by IDA staff;
- Representing the interest of the IDA as bond issuer, review and comment on the underlying financing documents (e.g. Trust Indenture, Loan Agreement, Official Statement, etc.);
- Provide the IDA’s Board of Directors with a report summarizing proposed transactions, which would minimally include the background of the borrower, an overview of the plan of finance, a summary of the positive elements to the financing, and a delineation of any potential risk factors;
- Throughout the bond-issuance process, communicate to the IDA and its staff any concerns regarding the viability of the transaction;
- Be available to attend meetings of the IDA Board of Directors to report on the status of the engagement, as requested by IDA staff;
- Participate in the pre-pricing call, and communicate to the IDA and its staff any concern for the competitiveness of proposed interest rates; and
- Provide all other reasonable financial advisory services, as needed relative to the transaction and as requested by IDA staff.
Click here for the full RFQ.
Responses Due By:
3:00 PM on Thursday, September 3, 2020
Industrial Development Authority
c/o St. Louis Economic Development Partnership
ATTN: Howl Bean II
7733 Forsyth Blvd., Suite 2200
St. Louis, Missouri 63105