Opportunity
South Pasadena Planet bids #CM26-04
Underwriting and advisory services for South Pasadena water revenue refunding bonds
Posted
October 06, 2026
Respond By
October 23, 2026
Identifier
CM26-04
NAICS
523150
The City of South Pasadena Finance Department is seeking an underwriter for a negotiated water revenue bond refunding transaction. - Buyer: City of South Pasadena, Finance Department, California. - Requested service: Underwrite and purchase the City’s water revenue refunding bonds, currently estimated at $20 million to $30 million. The refunding may address some or all of $28,180,000 in outstanding water revenue bonds. - Underwriter responsibilities: Analyze refunding savings and financing alternatives; recommend bond structure; support credit-rating strategy; review transaction documents and the Official Statement; monitor markets; develop investor marketing; advise on sale timing, pricing, orders, and allocations; coordinate due diligence and closing; obtain CUSIP numbers; and prepare post-sale analysis. - Requirements: The underwriter will purchase the bonds under a City-approved Bond Purchase Agreement. Final issuance size and structure depend on market conditions. - Prospective proposers named in the notice: Bank of America, Floral Park Consulting LLC, Mischler Financial Group Inc., qwerty, Shay Enterprise, and Stifel, Nicolaus & Company, Incorporated. No awardee is identified. - No manufactured products, part numbers, or product quantities are specified.
Description
The City of South Pasadena seeks proposals from qualified firms to serve as underwriter for a negotiated issuance of 2026 Water Revenue Refunding Bonds. The bonds are intended to refund all or a portion of the City’s outstanding 2016 Water Revenue Refunding Bonds, with the final size and structure dependent on market conditions. Scope includes analyzing refunding savings and financing structures, supporting credit ratings and marketing, pricing and underwriting the bonds, and coordinating transaction and closing activities. The RFP anticipates an issuance of approximately $20 million to $30 million and requires electronic proposal submission by October 22, 2026, at 5:00 PM.