Renewal - Underwriters Pools March 2024.pdf
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- Solicitation number
- 24-507GOMB-MGMTB-B-42277
- Issued by
- Illinois
About this file
This document is a renewal notice from the Governor's Office of Management and Budget (GOMB) for its previously awarded senior and co-manager bond underwriting pools. GOMB is renewing and extending both the senior manager and co-manager pools for a term expiring on June 30, 2025. The senior manager pool includes 15 firms, and the co-manager pool includes 18 firms, with several designated as Minority/Women-Owned Business Enterprises (M/WBE) and Veteran-owned businesses. The renewal is being posted due to the withdrawal and cessation of underwriting services by several previously selected firms.
The document outlines the updated list of eligible firms to serve as senior managers and co-managers on the State of Illinois' bond issues under the General Obligation Bond Act and the Build Illinois Bond Act. The renewal is being made pursuant to a previous solicitation, 20-507GOMB-MGMTB-B-12092, which originally established the underwriting pools. This renewal notice is not a solicitation, as the pools are being renewed and extended rather than newly selected.
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Text version
On March 23, 2020, the Governor’s Office of Management and Budget (GOMB), pursuant to solicitation 20-507GOMB-MGMTB-B-12092, selected pools of firms to serve as senior managers and co-managers on State of Illinois bond issues under the General Obligation Bond Act and the Build Illinois Bond Act. On March 2, 2022, GOMB posted an updated list of eligible firms reflecting the withdrawal of a previously selected member of the senior manager pool. Subsequently, GOMB has been notified that Citigroup Global Markets and UBS Financial Services, previously included in the senior manager pool, have ceased or withdrawn from relevant underwriting services. Further, GOMB has been notified that Melvin Securities, previously included in the co-manager pool, is no longer operating as such. Accordingly, GOMB is posting an updated list of firms eligible to serve as senior managers and co-managers on its bond issues.
Additionally, pursuant to the terms of the above-referenced solicitation, GOMB hereby renews and extends both the senior manager and co-manager pools for a term expiring on June 30, 2025.
The firms selected by GOMB to serve as underwriters are:
Senior Manager Bank of America Securities Barclays Cabrera Capital Markets - 1 Goldman Sachs & Co.
Jeffries LLC JP Morgan Loop Capital Markets - 1 Mesirow Financial Morgan Stanley & Co.
Piper Sandler & Co.
Ramirez & Co. - 1 RBC Capital Markets Siebert, Williams, Shank - 1 Stifel, Nicolaus & Co Wells Fargo
Co-Manager Academy Securities – 1 ,2 Backstrom, McCarley, Berry -1 Bancroft Capital LLC - 2 Blaylock Van LLC - 1 Drexel Hamilton LLC - 2 Estrada Hinojosa Investment Bankers - 1 Fifth Third Bank Harvestons Securities - 1 Hutchinson, Shockey, Erley & Co.
Janney, Montgomery, Scott Mischler Financial Group - 2 North South Capital - 1 Podesta & Co. - 1 Raymond James & Associates
Rice Financial - 1 Stern Brothers & Co. - 1 Valdes & Moreno - 1
- 1 = M/WBE ownership
- 2 – Veteran ownership
File details come from the government source that posted it. Updated .