RFP for Bank Credit Products for MICLA Commercial Paper Notes (General Capital Projects & Convention Center Programs)

The City of Los Angeles is soliciting proposals for bank credit products to support two key commercial paper programs: a $425 million lease revenue program for general capital improvements, acquisitions, and equipment, and a $100 million program for the Los Angeles Convention and Exhibition Center. The focus is on obtaining pricing and terms specifically for direct-pay letters of credit, which can be submitted for either or both programs. The solicitation, posted on January 7, 2025, with a deadline for responses on January 29, 2025, is managed by the LA Office of the City Administrative Officer, under the NAICS code 541330, indicating a professional, scientific, and technical services classification. The total contract size is estimated to range between $525 million and $650 million, reflecting the combined scope of both programs. Interested proposers can contact Darian Chin via email for further details and are encouraged to review the opportunity through the provided online link.