Debt Management Financial Advisor

The State of Maine, specifically the Office of the State Treasurer, is soliciting proposals for a Debt Management Financial Advisor through RFP# 202510144. The procurement seeks a qualified financial advisory firm to provide comprehensive services related to the state's general obligation bonds and notes portfolio. Required services include bond sales structuring guidance, market conditions analysis, rating agency relations, official statement preparation, compliance matters, and exploring alternative financing mechanisms. Bidders must currently be registered municipal advisors with both the SEC and MSRB, maintaining this registration throughout the contract term. Proposals will be evaluated on a 100-point scale, with 30 points for organizational qualifications, 40 points for proposed services, and 30 points for cost. Key dates include a January 21, 2026 deadline for questions and a February 10, 2026 proposal submission deadline via the Vendor Self Service (VSS) system. The anticipated contract period spans from July 1, 2026 through February 28, 2029, with two optional two-year renewal periods.

No specific set-aside designations or restrictions for disadvantaged enterprises are mentioned in the procurement documents. The state currently manages approximately $360.52 million in outstanding general obligation bonds with Moody's Aa1 and Standard & Poor's AA ratings as of March 31, 2025, and has $65 million in authorized but unissued bonds. No incumbent vendor is identified, and the state anticipates making a single award. The cost proposal must cover the entire three-year initial contract period as a fixed amount, with the lowest cost proposal receiving maximum points and higher proposals receiving proportionally reduced scores. Payment terms are anticipated at net 30 upon receipt of acceptable invoices. All proposals will become public records following award notification under Maine's Freedom of Access Act. The state reserves the right to negotiate with the awarded bidder and will not request best and final offers.