CHANGE ORDER NOTICE -Bond Underwriting Services

The Illinois Toll Highway Authority (Tollway) is issuing a change order notice to extend the existing contracts for Bond Underwriting Services that were established through a competitive procurement process (RFP#16-0155). The 11 senior underwriters that were originally selected will continue to market and underwrite Tollway bonds to institutional investors during the 120-day extension period from January 12, 2023 to May 12, 2023. This extension will allow the Tollway to take advantage of favorable market conditions for upcoming bond offerings, as the current contracts are set to expire on January 12, 2023. The change order is being issued at no additional cost to the Tollway, and the extension is deemed necessary and germane to the original scope of work.

There are no set-aside designations or restrictions on the types of organizations that can respond to this change order, as the original contracts were awarded through a competitive procurement process. The incumbent vendors are the 11 senior underwriters that were previously selected. The original procurement and contract values were not specified in the information provided.