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Public Higher Education Bulletin

 
Northern Illinois University
RFP #PSCMAB100719

Request for Proposal: Investment Banking Services

Award Info Published Monday December 9, 2019
Awarded to:
Vendor: BofAS Securities, Inc., New York, NY
Amount: An estimated $3,000,000
Terms:
An estimated start date of 12/5/2019 through 12/4/2024
Renewals:
1 five-year
Potential Future Renewals: $3,000,000
Vendor: Robert W. Baird & Co. Inc., Chicago, IL
Amount: An estimated $3,000,000
Terms:
An estimated start date of 12/5/2019 through 12/4/2024
Renewals:
1 five-year
Potential Future Renewals: $3,000,000
Vendor: Piper Jaffray & Company, Chicago, IL
Amount: An estimated $3,000,000
Terms:
An estimated start date of 12/5/2019 through 12/4/2024
Renewals:
1 five-year
Potential Future Renewals: $3,000,000
Vendor: Stifel, Nicolaus & Company, Inc., St. Louis, MO
Amount: An estimated $3,000,000
Terms:
An estimated start date of 12/5/2019 through 12/4/2024
Renewals:
1 five-year
Potential Future Renewals: $3,000,000
Vendor: Wells Fargo and Company, Chicago, IL
Amount: An estimated $3,000,000
Terms:
An estimated start date of 12/5/2019 through 12/4/2024
Renewals:
1 five-year
Potential Future Renewals: $3,000,000
Number of Unsuccessful, Responsive Respondents: 7
Comments:
NIU intends to award a contract to BofAS Securities, Incorporated, Robert W. Baird & Company, Incorporated, Piper Jaffray & Co, Stifel, Nicolaus & Company, Inc., and Wells Fargo & Company. The total amount is NTE $15 Million, amount for individuals firms is estimated and contingent on pricing competition during the life of the award and $15 Million for the renewal period. BEP - a) BofAS Securities, Inc. - BEP Vendor 20% American Veterans Group, PBC, b)Robert W. Baird & Co. Inc. - BEP Vendor 20% Valdes & Moreno, Inc. c)Piper Jaffray & Co. - BEP Vendors (1)Backstrom McCarley Berry & Co, LLC - 17.5% and (2) Estrada Hinojosa & Company, Inc. - 17.5% d) Stifel, Nicolaus & Company, Inc. - BEP Vendor Backstrom McCarley Berry & Co, LLC - 20%, and e)Wells Fargo & Company - BEP Vendor Siebert Cisneros Shank & Co. LLC - 20%.
The Chief Procurement Officer for this procurement is now Ben Bagby.
The State Purchasing Officer for this procurement is now Carla Carreno.
The University award process may be delayed up to thirty days as this award goes through a state approval process.
This notice has been modified
Published Wednesday October 23, 2019
Addendum #1 has been issued and provides responses to vendor questions. Proposal Due Date remain unchanged, Monday, October 28, 2019, 2 PM (CST).
First published Monday, October 7, 2019
Sealed proposals will be accepted below until 2:00 PM, Monday October 28, 2019:
At the following address:
Procurement Services & Contract Management
590 College Avenue
Lowden Hall, Room 107
DeKalb, IL 60115
The Board of Trustees of Northern Illinois University is seeking proposals from firms to create a Qualified Pool of Vendors to provide Investment Banking Services. The selected pool of vendors will have the opportunity to provide investment banking services to the University for a period of 5 years with the option for one additional five (5) year renewal term. The University expects to use the occasion of refinancing all of its outstanding BABS and other Auxiliary Facilities Revenue Bond indebtedness to modernize its Bond resolution, adding into it elements of greater flexibility that other Illinois public universities have included in their resolutions in recent years. Included in this modernization would be a change to the University Additional Bonds Test. The Qualified Pool of Vendors selection process requires that no pricing be submitted with your response to this RFP. However, vendors who are selected into this pool will be provided opportunities as they arise to submit quotes on an as-needed basis throughout the term of the contract.
There is a 20% BEP Goal included in this requirement. Please note the submission of a Business Enterprise Program Utilization Plan is required to be submitted with Proposals. Proposals submitted without a Utilization Plan shall not be considered for contract award.
A non-mandatory pre-submission conference call will be held on Friday, October 11, 2019 at 2:00 PM CST. Refer to section 1.5 of the proposal document for additional information.
Addendum #1 has been issued and provides responses to vendor questions. Proposal Due Date remain unchanged, Monday, October 28, 2019, 2 PM (CST).

For instructions on how to obtain a comprehensive purchase description, disclosure or contract forms, contact:
Antoinette Bridges
Northern Illinois University
Procurement Services & Contract Management
590 College Avenue
Lowden Hall, Room 107
Dekalb, IL 60115-2828
Phone: (815) 753-6727
FAX: (815) 753-6800
Chief Procurement Officer - Ben Bagby
State Purchasing Officer - Carla Carreno
Submit 6 copies of the response as defined in the specifications.
The University reserves the right to accept or reject any and all responses or parts thereof.
Vendor may expect payment thirty to sixty days after receipt of invoice, unless otherwise stated in the bid documents.
This procurement may be contingent on Board of Trustees approval.
Illinois Department of Human Rights (IDHR) eligibility number is required on all proposals, if applicable.
The contract(s) for this solicitation could exceed $50,000 annually.

This transaction is subject to the State Board of Elections registration and certification requirements of Public Act 095-0971.

The State of Illinois has a policy to encourage prospective vendors to hire qualified veterans, minorities, females, persons with disabilities and ex-offenders.

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Specification Documents
  • Addendum1InvestmentBankingServicesPSCMAB100719.pdf (535 KB)
  • Addendum1InvestmentBankingServicesPSCMAB100719V1F.pdf (535 KB)
  • BEPforms.pdf (230 KB)
  • NIUInvestmentBankingPSCM10072019.pdf (458 KB)
  • NIURFPPSCMAB100719Appendices1-6.xlsx (42 KB)