Investment Banking Underwriting Services

The Vendor is required to provide investment banking underwriting services for include:
- Debt issuance services
• Senior or co-manager role: act as senior manager or co-manager for specific debt issues as designated by the port
• Team coordination: coordinate with the port and all members of its financing team, including legal counsel, financial advisors, and other relevant stakeholders throughout the financing process.
• Document review and preparation: review and provide comments on all documents related to the financing, including official statements, bond documents, and other closing documentation.
• Financing structure analysis: identify, evaluate, and explain the benefits, risks, and trade-offs of alternative financing structures and options with the objective achieving the lowest possible interest rate and optimal use of the port's resources, while maintaining a prudent level of risk.
• Sizing and structuring advice: advise the financing team on the timing, sizing, and structure of each bond issue, including recommendations on maturity schedules, couponing and call features
• Credit rating strategy: advise the port on its credit rating strategy to pursue and maintain the highest achievable rating(s) for each bond issue, including developing and reviewing rating agency presentations.
• Credit enhancement evaluation: assess and advise the port on the potential benefits and costs of credit enhancement options for each bond issue, including bond insurance, surety and other credit enhancements.
• Marketing plan development: develop and execute a comprehensive marketing plan designed to achieve the widest investor participation, including retail, institutional, and other investor classes, resulting in the most favorable terms for each bond issue.
• Underwriting commitment: commit to underwrite the port's bonds and market them to achieve the best execution and the lowest possible cost of borrowing.
• Real-time order reporting: make available real-time access to, and reporting on, bond orders during the pricing period
• Closing support: provide assistance through all aspects of the bond closing, including preparation of a closing wire memo
• Post-sale analysis: prepare post-pricing analyses and a post-sale report including, but not limited to, information on market conditions at the time of sale, orders, designations, allocations, and results of comparable sales.
• Post-sale evaluation: participate in a post-sale evaluation process if desired by the port.
- Ongoing services
• Debt management: assist the port with its overall debt management, including monitoring of outstanding obligations and identification of refunding or restructuring opportunities.
• Credit strategy: make recommendations on and assist with the port's overall credit strategy to maintain and improve its creditworthiness in the capital markets.
• Bond ordinance support: provide market input on the formation and amendment of the port's bond ordinances.
• Market and legislative updates: provide continuing updates and advice on current and proposed state and federal legislation, regulatory changes, and market conditions that could affect the port's financial plans.
• Transportation and industry research: provide research and market intelligence on companies, transportation markets, and industry sectors relevant to the port's operations, including airports, seaports, airlines, and shipping lines, across both domestic and international markets.
• Economic research: provide economic research on national and international economies, public finance trends, and legislation impacting the public and private transportation industry.