The following consists of the anticipated scope of services for a Financial Advisor. a. Transactional Services – Bond Issuances i. Review and advise TRE on all aspects of the issuance of Commonwealth debt, including the transaction structuring, marketing strategy, quantitative analysis and associated pricing options and benefits including optionality, optimal couponing, etc. ii. Assist in pricing by participating in all pricing discussions; provide pre-pricing technical analysis, provide alternative pricing for different structures or coupons, and provide guidance and support on negotiating final pricing. iii. Assist in the development of a financing timeline and assist in the coordination of the transaction with counsel, rating agencies, trustees, verification agents, bankers and others involved in the issuance of the Commonwealth debt. iv. Prepare and advise on the procurement of a printer, escrow agent and verification agent as needed. v. Assist in identifying/reviewing opportunities for refunding, refinancings or defeasances. vi. Assist in the preparation of rating agency and investor presentations. vii. Assist in providing/reviewing the necessary data and advise counsel in the preparation of preliminary and final official statements, supplemental trust agreements, and other required bond related documents and contracts. viii. Advise on underwriting syndicate structure, policies, and compensation, including designation policies. ix. For competitive bond deals, assist in the preparation of bidding specifications and drafting the notice of sale. Evaluate and verify bids. x. Provide a post financing review. xi. For Bank Facilities and/or Direct Placement Financings, review and evaluate the financing structure and terms, provide intelligence on comparable financings, current and historical, evaluate the benefits and considerations vs. public market financing. Assist in negotiating financing terms and financing agreements. b. Non-Transactional Financial Advisory Services i. Assist with the development of financing plans. ii. Advise on the merits of competitive, negotiated, or private placement of debt. iii. Review proposals for potential transactions/financings submitted to TRE and make recommendations. iv. Provide debt portfolio and risk management analysis including the review of feasibility of upcoming current refundings, review of variable rate debt vs. fixed rate debt, call provisions, refinancing opportunities, etc. v. Monitor, on an ad-hoc basis, the Commonwealth’s debt portfolio and make recommendations as to changes. Assist with any defeasance, redemption, or tender programs executed in connection with such changes...
