The Southern California Public Power Authority (SCPPA), a California joint powers agency comprising eleven municipal utilities and one irrigation district, is soliciting statements of qualification from qualified firms to serve as senior manager(s) or co-manager(s) on future financings and refinancings. SCPPA seeks to establish a qualified pool of firms (the SCPPA Underwriter Pool) from which it will select senior manager(s) or co-manager(s) as needed for underwriting services during the next five years.
Underwriter assignments for individual financings will be made based on value-added financing and refinancing proposals, firm experience, fees, and other relevant factors. SCPPA does not guarantee that all firms within the pool will participate in transactions during the five-year period and reserves the right to determine the number of firms selected for each transaction. Firms interested in serving as senior manager will automatically be considered for co-manager positions.
Proposals must include comprehensive firm information covering principal contacts, key representatives and their public power experience, recent organizational changes or personnel turnover, credit ratings, firm designation (if applicable), and any SEC investigations. Respondents must indicate whether they wish to be considered as senior manager or co-manager.
Firm experience submissions must detail the number of transactions and total par amount completed as senior manager for 2021-2023 in national transactions, national public power transactions, California transactions, and California public power transactions. Respondents must provide three case studies demonstrating value-added services, addressing national public power accounts, California public power accounts, and renewable power transactions. Additional sections must address transaction pricing including investor account coverage, spread to BVAL estimates for various projects, and co-manager performance examples. Senior manager proposals must include financing ideas addressing cost reduction on renewable projects, refinancing opportunities over three years, and other relevant financing concepts. All respondents must address credit support capabilities through letters of credit, standby bond purchase agreements, or direct purchases, along with available credit capacity.