RFP

Proposals must conform to the requirements of this Request for Proposal (RFP) and should not exceed 15 (fifteen) pages in length, including exhibits, except as noted. A concise executive summary and cover letter should accompany your proposal. The proposal must indicate whether your firm is proposing to be considered for Senior Managing Underwriter, Co-Managing Underwriter, or both.

Proposal Submission: Electronic submission is required. Proposals should be submitted in PDF format to:

Joanna L’Heureux
Chief Financial Officer / Chief Operating Officer
Rhode Island Infrastructure Bank email: rfp@riib.org

Questions regarding this RFP should be emailed to Joanna L’Heureux, no later than 4:00 PM Eastern Time on November 2, 2026. All questions and answers will be aggregated and posted publicly on the “Requests for Proposals” landing page found under the “About” dropdown menu at www.riib.org. The Bank will not answer questions verbally or individually during the RFP process.

Items to Be Included with Your Proposal

General Information

Provide a brief description of your firm, including but not limited to the following:

• Your public finance group and its ability to handle both leveraged and market-rate pool financing, utilizing taxable and tax-exempt bonds.
• Your firm’s commitment to public finance and any changes to the size of the firm’s public finance staffing levels and municipal sales and trading groups since January 2024
• Your experience with Environmental, Social, and Governance (ESG) bond issuers and with marketing such issues.
• Your institutional and retail sales capability.
• For senior managers - procedures which would ensure pricing efficiency and provide equity for bonds to all participants of the syndicate and selling group.
• For co-managers - procedures which the book-running manager should adopt to ensure equity to all participants of the syndicate and selling group.

Relevant Experience and Resources

List (i) all State Revolving Fund bond issues, (ii) all municipal loan pool bond issues, and (iii) all other leveraged pool bond issues for which your firm served as Senior Managing Underwriter or Co-Managing Underwriter since January 1, 2024. This information may be presented as an exhibit to your proposal not subject to the 15-page limitation. For Senior Managed issues, please include information in the following format:

1. Name of issuer
2. Size of issue
3. Date of issue
4. Taxable or tax-exempt issue
5. Ratings
6. Underwriting participation
7. Amount taken down
8. Management Fee
9. Underwriting Fee
10. Expenses
11. Takedown
12. Gross spread
13. TIC
14. Special structural features

For Co-managed issues, please include the information in the following format:

1. Name of issuer
2. Size of issue
3. Date of issue
4. Taxable or tax-exempt issue
5. Underwriting participation
6. Orders submitted (separately list going away and stock orders)
7. Amount taken down

• Indicate which member(s) of your Municipal Finance Department would be involved with the Bank. Provide appropriate background information on such persons and identify what their responsibilities would be in serving the Bank.
• If your proposal relies on capabilities of your firm outside of your Municipal Finance Department, provide examples where professionals outside of your department have made meaningful contributions to activities of your State Revolving Fund and other public finance clients.
• Describe your firm’s technical capabilities, including a description of your technical resources. Indicate whether you rely upon external sources for cash flow analyses of leveraged pool financings.
• Provide three references from among your public finance clients including names, addresses and phone numbers.
• Describe any recent innovative public finance techniques or structures which your firm has developed. Identify the transactions in which they were used.
• If chosen as a co-manager, what do you perceive your role to be? How would you serve the Bank?
• Describe any recent contributions that your firm provided to the Bank in the last two years.
• Additional factors or experience that could help the Bank in carrying out its mission.