T3030 Revised 490 SOFR Curve 6.2.26.docx

This is a pricing specification document for the State of New Jersey Department of the Treasury, Division of Purchase and Property, related to Bid Solicitation 25DPP01105 for the T3030 Equipment Master Lease Purchasing Financing Facility. The solicitation seeks a primary source lender to provide up to $100 million in equipment master lease purchase financing services over a three-year base term with options to extend for up to three additional one-year periods by mutual written consent. The lessor will finance approximately 160 third-party supplier payments annually across diverse equipment categories including vehicles, computers, helicopters, and administrative assets. An optional pre-quote conference is scheduled for February 5, 2026, at 9:30 AM, with an electronic question and answer period deadline of February 19, 2026, at 2:00 p.m. Quotes are due by 2:00 p.m. on March 17, 2026. The contract document references the Bloomberg 490 SOFR Curve as the basis for interest rate calculations, with the specific curve rates displayed as an image attachment to this pricing specification file.

Bidders must submit pricing using the state-supplied price sheet with interest rates calculated as a percentage of the SOFR Swap Rate plus a spread quoted in basis points for three-year, four-year, and five-year financing terms, with all percentages rounded to four decimal places and all lessor fees and expenses included within the quoted interest rates. Evaluation criteria include technical qualifications addressing personnel qualifications, firm experience with similar-sized contracts, and demonstrated understanding of the scope of work, combined with price evaluation using a weighted basket approach across the three pricing lines. The procurement is not designated as a small business or disabled veteran-owned business set-aside, subcontracting is prohibited, and the State will award one contract to a single primary source lender. Bidders must meet mandatory insurance requirements including commercial general liability of at least $1,000,000 per occurrence, automobile liability coverage of $1,000,000, workers' compensation insurance, and professional liability insurance of $5,000,000 per occurrence. Rental payments will be payable semi-annually in arrears on June 15 and December 15, subject to annual legislative appropriations and the New Jersey Prompt Payment Act, which mandates payment within 60 days of receipt of properly executed vouchers.