RFQ for Bond Underwriting Services

Agency:	State Government of Louisiana
State:	Louisiana
Type of Government:	State & Local
NAICS Category:	541611 - Administrative Management and General Management Consulting Services
Posted Date:	Dec 15, 2025
Due Date:	Jan 12, 2026
Solicitation No:	40016-20251215UW
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Contact information:	Please Login to View Page
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Bid Number	Description	Date Issued	Bid Open Date/Time
40016-20251215UW	RFQ for Bond Underwriting Services Original: 40016-20251215UW	12/15/2025	01/12/2026 4:30:00 PM CT

Contact Information for Bid # 40016-20251215UW

Department	+- Comm/Tech College - La. Community & Technical College System
Section	Purchasing
Dept Code	40016
Contact	Gerald Mayeaux
Address	265 South Foster Dr. Baton Rouge, LA 70806
Phone	225-922-2800
Fax	225-922-1185
Email	gmayeaux@lctcs.edu
URL	http://www.lctcs.edu/

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REQUEST FOR QUALIFICATIONS

BOND UNDERWRITING SERVICES

Solicitation No. 40016-20251115 UW

LCTCS FACILITIES CORPORATION

(A LOUISIANA NON-PROFIT CORPORATION)

MULTIPLE PROJECTS PROGRAM FOR

THE LOUISIANA COMMUNITY AND TECHNICAL COLLEGE SYSTEM

ISSUE DATE: DECEMBER 15, 2025

REQUEST FOR QUALIFICATIONS

FOR BOND UNDERWRITING SERVICES FOR THE

LCTCS FACILITIES CORPORATION

December 15, 2025

The LCTCS Facilities Corporation (the “Corporation”) is considering the hiring of one or more

qualified broker-dealers to provide bond underwriting services as more fully described in the

“Scope of Services” described herein. This Request for Qualifications (the “RFQ”) seeks to

provide the Corporation with a fair and competitive process for the selection of senior managing

underwriter (“Underwriter”). The selected firm will provide bond underwriting services to the

Corporation for a period of five (5) years, commencing on the date the Underwriter is chosen and

continuing until the end of the initial five-year term, subject to review by the Corporation’s Board

of Directors. Within this RFQ, firms responding hereto will sometimes be referred to as

“Proposer,” “Proposers,” or, when convenient and appropriate, may be addressed as “you,” “your”

or “yours.”

SECTION I.

Background Information

The Corporation is a Louisiana private non-profit public corporation validly existing and in good

standing under the laws of the State of Louisiana created for the purpose of administration,

financing, planning, acquisition, expansion and construction of quality facilities for the benefit of

students of the Louisiana Community and Technical College System (“LCTCS”). The

Corporation’s board of directors consists of civic leaders from geographic areas across the state,

who generously volunteer their time to represent the interest of the LCTCS, its colleges and the

State of Louisiana in providing oversight and accountability for building programs authorized by

the Louisiana Legislature.

The Corporation administers alternative financing facility projects on behalf of the LCTCS in

accordance with Louisiana Revised Statute 17:3394.3. Act 391 of the 2007 Regular Legislative

Session was Louisiana’s initial large-scale commitment to modernizing community and technical

college facilities. With funding for 23 projects totaling $172 million, Act 391 laid the foundation

for a new generation of workforce campuses. It responded to the urgent needs related to outdated

facilities, capacity constraints, and a growing demand for skilled labor. Building on that

foundation, Act 360 of the 2013 Regular Legislative Session provided an additional $287 million

in funding through a cost-sharing model between the state and local/institutional sources. The Act

360 program delivered 26 new or renovated facilities and reached a 14% private and local match

program wide. These modern facilities became engines of opportunity, resulting in increased

student enrollment, higher graduation rates, stronger industry partnerships, and improved

economic outcomes for communities.

Act 35 of the 2025 Regular Legislative Session will build upon a legacy of strategic capital

investment by leveraging existing resources to address Louisiana’s long-term workforce facility

needs. This program will expand facilities for high-demand training in sectors such as healthcare,

broadband, energy, manufacturing, and logistics. Additionally, it will replace outdated buildings

that no longer meet the technological or instructional needs of today’s workforce programs. This

program will leverage state investment to draw additional public and private funding, as each

project is required to provide a 12% local match prior to bond sale.

Page 2

Ultimately, Act 35 will utilize existing bond capacity as it becomes available as prior bonds mature,

thereby keeping future State general fund appropriation requirements the same as FY 2025. The

statutory cap for annual debt obligation for the LCTCS remains at $43,900,000. In addition to the

issuance of new money bonds, Act 35 may require the refunding or restructuring of other prior

LCTCS related bonds supported by the overall State appropriation.

In addition to the bond-financed programs, the Corporation may administer other types of projects

funded via direct local and/or federal funding. These projects will follow the same programmatic

governance as the bond-financed projects, although the funding will be handled differently.

Additionally, projects financed via the Capital Outlay process (state funds) may also be managed

in conjunction with economic development-related projects via the Louisiana Economic

Development (LED), Division of Administration (DOA), and other state agencies on a

reimbursement basis.

SECTION II. Municipal Advisor Exemption

The Corporation has retained Sisung Securities Corporation as its Independent Registered

Municipal Advisor (“Municipal Advisor”). The Corporation is represented by and will rely on the

Municipal Advisor to provide advice concerning municipal securities or municipal financial

products in connection with the implementation of its Act 35 financing program or the refunding

or restructuring of its Act 391 or Act 360 financing programs. The Corporation intends that

Proposers and the selected Underwriter may rely upon the provisions of SEC Rule

15Ba1-1(d)(3)(vi) (the “IRMA exemption”).

SECTION III. Minimum Qualifications

For the purposes of this RFQ, respondents must meet the following minimum qualifications:

(1) Must be a broker-dealer, municipal securities dealer or separately identifiable

department of a bank licensed/registered with the Securities and Exchange Commission

(SEC), Office of the Comptroller of the Currency (OCC), Municipal Securities

Rulemaking Board (MSRB), and/or Financial Industry Regulatory Authority (FINRA),

each as applicable.

(2) Must be active in municipal bond underwriting in the State of Louisiana.

SECTION IV. Scope of Services

This solicitation is for one or more senior managing Underwriter. In the event more than one firm

is selected, the Corporation reserves the right at its discretion on any individual bond issue to

appoint the book running Underwriter. Based on the recommendations of the selected Underwriter

and the Municipal Advisor, the Corporation reserves the right to solicit one or more co-managers

if deemed necessary.

At the request of the Corporation as needed, and in coordination with the Municipal Advisor and

Bond Counsel, the Underwriter will provide the following services:

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(1) Commenting and providing input on the plan of finance and financing schedule in

connection with the issuance of the bonds.

(2) Evaluating various financing structures and proposing financing methods within

statutory legal constraints to be considered for accomplishing the Corporation’s

objectives in connection with the bonds and being available to offer recommendations

on various financing structures for the bonds.

(3) Performing quantitative analysis and preparing bond cashflow models.

(4) Providing market analysis and developing a comprehensive marketing plan for the

bonds, including marketing strategies, investor outreach, timing of sale, structure and

couponing strategies, etc.

(5) Performing all underwriting activities for the negotiated sale of the bonds, including

book running management of any syndicate, developing the proposed pricing scale and

providing support from comparable transactions, recommending day-of-sale repricing

levels, offering a commitment to underwrite unsold bonds under commercially

reasonable terms given market conditions, etc.

(6) Engaging in comprehensive and transparent pre-sale and day-of-sale coordination and

communication with the Corporation and the Municipal Advisor, including conference

calls, market intelligence, Ipreo order book access, post-sale reporting, etc.

(7) Testifying before any regulatory, administrative and legislative body and attending

regularly scheduled and special meetings of the Board of Directors of the Corporation

and the Board of Supervisors of the LCTCS in connection with the issuance of the bonds.

(8) Working with the financing team to review and revise financing documents required in

connection with the issuance of the bonds and assisting in the preparation of the Official

Statement.

(9) Assisting in the rating process and providing interaction with the rating agencies.

(10) Furnishing such other typical municipal underwriting functions as requested.

SECTION V. Term of Appointment and Compensation

The Underwriter chosen in connection with this RFQ will be appointed to begin work immediately

upon notification of its selection and is to continue providing the services until the end of the initial

contract term, or until the extended period of the contract is met, whichever is later. However, the

Underwriter will be performing activities prior to the financing as set forth in Act 35.

Compensation to the Underwriter for services performed prior to financing will be strictly

contingent upon the financing and such financing will be a condition precedent to any

compensation becoming due the Underwriter. As such, the Underwriter knowingly assumes the

risk of never being paid for services rendered until such a time as the financing set forth in Act 35

is in place. The Underwriter agrees by submitting a response to this RFQ that until the financing

for the Program is in place as set forth in Act 35, the Corporation will not have any funds to pay

the Underwriter and, thus, in the event that the bond financing falls through or some other event

occurs that causes the termination of the Program before bond financing is complete, the

Underwriter will receive no compensation for work or services performed, or expenses incurred

by the Underwriter.

Page 4

SECTION VI. Required Information

Firm Background. Provide your firm’s name and business address, date of formation, principal

places of business, organizational structure, years in practice and years of experience in providing

municipal bond underwriting services. Please identify clearly offices with public finance banking

and/or underwriting personnel versus offices with institutional and/or retail sales. Describe your

firm’s presence in and commitment to the State of Louisiana.

Assigned Personnel. Please provide brief resumes or curriculum vitae of all professionals in your

firm who would be assigned to work with the Corporation in connection with the issuance of the

bonds. Please specifically identify your firm’s anticipated (1) lead public finance banker, (2) lead

quantitative analyst, and (3) lead underwriter.

References. Please list at least one and no more than three professional references, including names,

emails, addresses and telephone numbers of clients that are familiar with your firm’s work and

qualifications as an underwriter in areas similar to those envisioned in this RFQ.

Overall Qualifications. Succinctly explain the top three reasons why your firm should be chosen

as Underwriter. Describe your firm’s public finance banking, quantitative analysis and

underwriting/distribution capabilities. Describe specific instances of prior work that best illustrate

your firm’s qualifications in areas similar to those envisioned in this RFQ.

LCTCS Approach. Describe any prior work of your firm with the LCTCS or any of its institutions

or affiliates. Explain your approach as an underwriter to implementing the Act 35 financing

program. Describe any unique or special considerations you believe the Corporation should

consider in issuing the Act 35 bonds.

Prior Experience. Provide a table/spreadsheet listing underwriting engagements in which your firm

served as senior manager or co-senior manager. Include separate columns for each of the following

items and provide total par and total issue count for items 3-10. Please cover the period January 1,

2020 through the present. Please include this information in an appendix, which shall be exempt

from the page limitation set forth in Section VIII.

(1) Closing date

(2) Issuer and bond series

(3) Par amount

(4) Were bonds higher education related

(5) Were bonds appropriation dependent

(6) Were bonds issued through a non-profit corporation similar to the Corporation

(7) Were bonds for Louisiana issuers

(8) Did your lead public finance banker for the Corporation perform a similar role

(9) Did your lead quantitative analyst for the Corporation perform a similar role

(10) Did your lead underwriter for the Corporation perform a similar role

Page 5

This page summarizes the opportunity, including an overview and a preview of the attached documents.

* Disclaimer: This website provides information about bids, requests for proposals (RFPs), or requests for qualifications (RFQs) for convenience only and does not serve as an official public notice. Individuals who wish to respond to or inquire about bids, RFPs, or RFQs should contact the relevant government department directly.

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RFQ for Bond Underwriting Services

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