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Rhode Island Commerce Corporation·Rhode Island

RFP-Investment Banking and Underwriting Services-Addendum1

Closes 3/31/2026$500k – $1MRequest for Proposal
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Description

The Rhode Island Commerce Corporation issued an addendum clarifying the RFP‑2605 solicitation for investment‑banking and underwriting services on the Grant Anticipation Refunding (GAR) Bonds – Series 2026 A that will be issued for the Rhode Island Department of Transportation. The solicitation seeks a Senior Managing Underwriter to lead the transaction, while firms already in the state’s qualified‑underwriter pool may elect to serve solely as Co‑Managers with a streamlined response. No budget, fee schedule, or submission deadlines are disclosed in the addendum. • Provide senior managing underwriting services for RIDOT’s GAR Bonds Series 2026 A. • Co‑Manager role available for firms in the state underwriting pool; only a brief interest statement and answer to Question 1a required. • Full RFP package mandatory for firms pursuing the Senior Managing Underwriter position. • No fee structure, bond size, or submission deadline provided in this addendum – refer to the original RFP for details. • Opportunity posted in Rhode Island and administered by the Rhode Island Commerce Corporation.

Attached files

The solicitation documents live at the source — open the bid source above to download them.

Contact

Neil Martin

(401) 278-9100

Key dates

Opened
3/31/2026
Closes
3/31/2026

Last updated

Details

Type
Request for Proposal
Industry
Financial Services
NAICS
523110
Solicitation №
RFP-2605ADD1

Budget estimate

$500,000 – $1,000,000

Municipal bond underwriting fees typically range from 0.5 % to 1 % of the total bond issuance amount. Assuming the RIDOT GAR Bonds Series 2026 A are in the $100 million‑$200 million range (a common size for state transportation projects), the senior managing underwriter could expect fees between $500,000 and $2,000,000. Co‑Managers usually receive a smaller portion of the total fee, often 10‑20 % of the lead manager’s compensation. Given the lack of disclosed bond size, a conservative estimate for the overall underwriting revenue to the winning firm is $0.5 million–$1 million.

AI estimate from the solicitation

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