Underwriting Services

Overview

Financial, Legal, HR & Staffing

Springfield, Illinois, United StatesPosted 21 days agoDeadline: June 2nd, 2026

Fit Score

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SUMMARY

Illinois seeks financial institutions to act as underwriters for State bond issues and related debt management initiatives, with roles for both Senior Managers and Co–Managers.

KEY REQUIREMENTS

Must be a licensed registered broker/dealer
Must have approval from senior management to underwrite State of Illinois bonds
Senior Manager candidates must have been a book runner on at least two transactions with a minimum par of $300 million each since January 1st, 2022
Must demonstrate capital and legal underwriting capacity to support liability
Must submit Vendor Disclosure or IPG Active Registered Vendor Disclosure
Must submit a technical response and commitment to diversity
Must submit three references
Must submit an Offer to the State of Illinois
Must be a duly constituted legal entity authorized to transact business in Illinois

BUDGET

Estimate

$1,000,000 – $5,000,000

CONTRACT DURATION

48 months

TIMELINE

Questions due by May 8th, 2026.

Evaluation and establishment of underwriter pool by July 1st, 2026.

Initial term commences July 1st, 2026, and ends June 30th, 2030.

QUESTION DEADLINE

May 8th, 2026

Issuing Agency

Governor's Office Of Management And Budget

Organization overview and procurement intelligence available on paid plans.

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DESCRIPTION

The government authority in Illinois is seeking to qualify financial institutions to provide underwriting services for its bond issues, capital markets, and debt management initiatives. There will be two levels of underwriters: Senior Managers/Book Runners and Co–Managers. Senior Managers are expected to deliver comprehensive book-running services, including structuring, marketing, selling, and underwriting of debt, as well as surveillance of State debt and identifying market opportunities.

Qualified underwriters will develop financing structures that align with the State’s existing debt portfolio and its long–term financial and policy objectives. Responsibilities also include creating marketing, timing, and pricing strategies; conducting bond sale conference calls; managing the syndicate and encouraging team participation; and delivering market and economic data, pricing views, comparable pricing, and proposals. Additionally, underwriters will provide input on continuing disclosure undertakings.

Source attribution

This Settle analysis is based on the issuing organization’s public RFP listing.