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Public Higher Education Bulletin

University of Illinois at Urbana-Champaign
RFP #1THN621

Request for Proposal: Standby Bond Agreement

Award Info
Published Monday October 10, 2005
Awarded to:
Vendor:  State Street Bank and Trust Co.
Amount:  a price determined by the bonds purchased
Terms:   10/15/05 to 10/14/10 with one 5-year renewals
Number of Unsuccessful, Responsive Respondents: 6
The University award process may be delayed up to thirty days as this award goes through a state approval process.
First published Friday April 8, 2005
Sealed responses will be accepted at the address below until 2:00 PM, Tuesday April 26, 2005:
University of Illinois at Urbana-Champaign
Purchasing Division
Suite 212, MC-364
616 E. Green St.
Champaign, IL 61820

for the establishment of a standby bond purchase agreement.

The Board of Trustees of the University of Illinois plans to enter into a standby bond purchase agreement to obtain liquidity support with a provider for variable rate demand Auxiliary Facilities System Revenue Bonds, Series 2005B. The Board will issue the Bonds pursuant to 110ILCS 405/1 et seq. The bonds will be in DTC book-entry form. The term of the agreement is subject to negotiation.

Banks may respond to this Request for Proposals in their individual capacity or as part of a group. Banks with short-term ratings of at least P-1/A-1 and long-term ratings of at least A1/A+ by Moody's and Standard & Poor's respectively, will be considered to act as fronting banks. Banks with ratings lower than those stipulated above may submit proposals to act as participating banks. Although proposals from groups of banks proposing several, but not joint liability will be considered, it is the University's preference that a single bank lead the entire liquidity facility. That bank would then be permitted to participate out the transaction, as it deemed necessary.

The Request for Proposal will be available for download on this web site on or about Monday April 11. Information regarding bank's ratings, interest rates, credit approval and term as well as other information is requested. (Submitted by Kathe Shinham, State Purchasing Officer.)

For additional information, contact:
Tom Nation
Phone: (217) 333-3584
FAX: (217) 239-6869

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