Underwriting Services

George Mason University (Mason), a public institution of higher education in Virginia located in Fairfax County, is soliciting proposals through a Request for Proposal (RFP) to establish a pool of qualified underwriting services firms for potential future bond issuances and capital markets activities. The RFP, identified as GMU-ER0408-25, seeks firms to provide comprehensive underwriting services including identifying investors, assisting with financial presentations, providing market updates, and supporting bond issuance processes. Evaluation criteria will be based on 100 total points, with 30 points each allocated to service quality, vendor qualifications and experience, and specific service methodology, plus an additional 10 points for Small, Minority, and Women-owned Business (SWaM) certification. Key proposal submission dates include a first round of vendor questions due by August 11, 2025, proposal submissions due by September 26, 2025, at 2:00 PM ET, potential oral presentations during the week of October 27, 2025, and a tentative notice of award on December 8, 2025. The contract will have a three-year base term with five successive one-year renewal options, and while selection for the underwriter pool does not guarantee work, selected firms will be available for potential future bond transactions.

The RFP emphasizes opportunities for Small, Women-owned, and Minority-owned (SWaM) businesses, requiring offerors to complete a Small Business Subcontracting Plan that details intentions for utilizing DSBSD-certified small businesses, including micro, women-owned, minority-owned, and service-disabled veteran-owned businesses. Proposing firms must submit comprehensive documentation including their capital position, underwriting experience, case studies, references, and responses to specific financial and strategic questions. For proposal preparation purposes, vendors are advised to use June 30, 2025, as the market data reference date and assume a $150 million tax-exempt, 30-year bond with a 10-year par call. The university has historically used McGuire Woods as bond counsel and is not currently seeking operating lines, though there may be potential for a future commercial paper program line. No specific contract value or budget range is explicitly stated, and the university will use its standard two-party agreement as the basis for contract awards, with opportunities for vendors to provide additional terms or exceptions.