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Upcoming RFP: Letter of Credit to Support Valley Water's Commercial Paper Program

Active
VW0422State & Local

Contract Overview

Solicitation details, issuing organization, response deadlines, documents, and interested companies for this government contract opportunity.

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The Santa Clara Valley Water District (Valley Water) is preparing to issue a Request for Proposals (RFP) seeking financial institutions to provide a direct-pay Letter of Credit (LOC) to support its Commercial Paper Program. The LOC will back up to $200 million in both taxable and tax-exempt commercial paper notes, serving as credit support for this short-term borrowing mechanism. The solicitation is scheduled for release on June 12, 2024, with proposals due by July 3, 2024. Following the evaluation process, Valley Water aims to obtain Board approval by October 22, 2024, and plans to execute the LOC agreement by December 9, 2024. Interested financial institutions must request access to the RFP documents via email by contacting Charlene Sun and Edmund Soong, the designated points of contact for this solicitation. All communications and submissions related to the RFP are to be conducted exclusively through email. Additional financial and operational details about Valley Water are available on their official website, providing prospective bidders with necessary background information to prepare proposals for this opportunity in California.

General Info

Valley Water seeks financial institutions for $200M LOC supporting Commercial Paper, proposals due July 3.

Agency

California → Santa Clara Valley Water DistrictView Agency

NAICS

522110 - Commercial BankingView NAICS

Place of Performance

CA, USA

Set-Aside

NONE

Documents

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No documents available

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Timeline

PhaseSolicitation
Posted

Solicitation

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Organization & Contact Information

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AgencyCalifornia → Santa Clara Valley Water District
Contacts1 person available
OfficeN/A
Organization / Agency
California → Santa Clara Valley Water District
View Agency Profile
Office AddressN/A
Contacts
Charlene Sun
contact@example.gov

Full Description

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Upcoming RFP Notification: Letter of Credit to Support Valley Water's Commercial Paper ProgramThis is an advance notification to inform firms of an upcoming RFP for Financial Institutions to provide a Letter of Credit to Support Valley Water's Commercial Paper Program. The Santa Clara Valley Water District (Valley Water) is soliciting proposals from banks to provide credit support for up to $200 million of taxable and tax-exempt commercial paper notes in the form of a direct-pay letter of credit (LOC). The solicitation is expected to be released on June 12, 2024, and proposals are due on July 3, 2024. Valley Water expects to seek Board approval on October 22, 2024 and execute the LOC agreement on December 9, 2024.For general information about Valley Water, visit www.valleywater.org. For financial and operational information about Valley Water, visit: https://www.valleywater.org/how-we-operate/finance-budget and https://www.valleywater.org/how-we-operate/finance-budget/investor-relations. Any Financial Institutions interested in submitting a proposal in response to the RFP MUST submit their request via email only to Charlene Sun at csun@valleywater.org and Edmund Soong at esoong@pragadvisors.com in order to receive a link to download the RFP documents.All inquiries and submittals regarding this RFP MUST be directed via email only to Charlene Sun at csun@valleywater.org and Edmund Soong at esoong@pragadvisors.com.

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