Request for Qualifications for Underwriter Services

The Agencies are issuing this Request for Qualifications (“RFQ”) to solicit proposals from qualified firms (“Firms” or “Proposers”), registered with the Securities and Exchange Commission (“SEC”), Financial Industry Regulatory Authority (“FINRA”) and/or the Municipal Securities Rulemaking Board (“MSRB”), as the basis of establishing Prequalified Panels (“PQLs”) of Senior Managing Underwriters and Co-Managing Underwriters (collectively “Underwriters”) as well as a list of Selling Group Members (“List”), in connection with the sale and issuance of the Agencies’ bonds. Through this RFQ process, the Agencies intend to select multiple qualified Firms for inclusion on the PQL of Underwriters and to establish a corresponding list of Selling Group Members. Senior Managing Underwriters (“Tier 1”) lead the underwriting syndicate and are responsible for coordinating the underwriting process, which may include structuring and pricing the bonds, marketing the offering, managing the order book and allocations, coordinating investor outreach and executing the bond transaction. Co-Managing Underwriters (“Tier 2”) are members of theunderwriting syndicate that support the Senior Managing Underwriters in marketing, distribution, investor outreach and execution of the bond offering. The Selling Group Members (“Tier 3”) support the underwriting syndicate by distributing bonds to investors without assumingunderwriting responsibilities, duties, or risk as set forth in the scope of services. Firms can submit proposals to be considered for either one or both of the PQLs. Any Firm placed on a PQL receives automatic inclusion on the Selling Group Member list. Firms can also submit solely for the Selling Group Members list. All responding firms must meet the minimum requirements for PQLs and the Selling Group Member list as outlined in Section 4 of this Solicitation. Proposals must be submitted for all Agencies (HFA, SONYMA, MBBA and TSFC) collectively. The Agencies expect to sell numerous bond issues to fund HFA’s Affordable Housing Revenue Bond program and stand-alonemultifamily housing finance program as well as SONYMA’s Single Family program. Additional bond issues may be sold from time to time by the MBBA and the TSFC. The Agencies may add new qualified Firms to the Selling Group Member list and may elevate Firms from Co‑Managing Underwriters to Senior Managing Underwriters only through the annual recertification process, consistent with the structured PQL Annual Recertification Process. This Solicitation seeks to replace, not supplement, the Agencies’ Prequalified Panel(s) for Senior Managing Underwriters and Co-Managing Underwriters. Accordingly, firms on any existing Senior Managing or Co-Managing Prequalified Panels must respond to this Solicitation if they would like to continue to be Prequalified. Issuance of this Solicitation will not affect any existing engagements already entered into by the Agencies and any firm on the Agencies’ current Prequalified Panel of Underwriters relating to one or more of the Agencies’ initiatives. Scope of Services: The overall responsibilities of the Agencies’ Senior Managing Underwriters shall include: 1) providing the most cost-effective pricing and marketing of the Agencies’ bonds at the lowest interest rates possible and the distribution of such bonds; 2) identifying new strategies and initiatives as well as ideas which could be utilized by the Agencies to enhance the Agencies’ operations and the performance of the Agencies’ programs; 3) identifying refunding opportunities for the Agencies to reduce interest costs on their respective portfolios; 4) review and advise on bond structure, size of the bond issues, programmatic cash flows and individual transaction cash flows for the Agencies’ programs; 5) prepare market commentary, Net Interest Cost / True Interest Cost / Weighted Average Maturity (“NIC/TIC/WAM”) calculations, financing schedules and calendars of events; 6) prepare pricing memos to discuss marketing conditions (including comparables) and preliminary pricing scales, syndicate rules, syndicate price views, pricing progression (including subscription levels and unsold balances) and marketing compensation prior topricing; 7) manage the underwriting process and provide advice on market timing and investor demand; 8) conduct bond sale conference calls and coordinate information with the syndicate group; 9) commit capital as required in underwriting the Agencies’ bonds; 10) provide post-closing analysis of debt issuances including pricing, orders, allotments, subscription levels, designations; 11) provide support for the Agencies’ bonds in the secondary market; 12) as remarketing agent, provide weekly/daily reset rates; 13) undertake certain market-related analysis of various financial products, as may be requested by the Agencies; 14) coordinate information meetings with institutional investors, credit analysts, financial advisors and other public presentations, as may be requested by the Agencies; 15) assist the Agencies in expanding its investor base, including growing impact and Community Reinvestment Act Investors; 16) prepare “Roadshows” relating to bond offerings; 17) participate in discussions with the Agencies upon the occurrence of unexpected events, such as the dislocation or disruption in the credit and liquidity markets generally or in particular sectors of any market that may adversely affect the Agencies’ bonds, and assist the Agenciesin developing strategic and tactical responses; 18) provide balance sheet, including direct purchase, Standby Purchase Agreements (“SBPAs”), Letters of Credit (“LOCs,”) or other credit instrumentalities; and 19) provide a commitment to assist Agencies meeting their missioned based goals through social, economic, environmental and operational outcomes including working with Agencies on their disclosure document and practices; and The overall responsibilities of the Agencies’ Co-Managing Underwriters shall include (unless otherwise provided): 1) assist in marketing and distribution of bonds; 2) commit capital as required in underwriting the Agencies’ bonds; 3) provide support for the bonds in the secondary market; and 4) perform other services as requested by the Agencies from time to time. For access to the full RFQ and for all future updates please refer to: https://hcr.ny.gov/procurement-opportunities All submissions are to be sent to: [email protected] Business enterprises awarded an identical or substantially similar procurement contract within the past five years: Senior Managers: Barclays Capital Inc. Blaylock Van, LLC BofA Securities Inc. Citigroup Global Markets Inc. FHN Financial Capital Markets Jefferies LLC J.P. Morgan Securities LLC Loop Capital Markets Morgan Stanley & Co. Inc. Samuel A. Ramirez & Co. Inc. Raymond James & Associates, Inc. RBC Capital Markets LLC Siebert Williams Shank & Co. LLC Stifel, Nicolaus & Co., Inc. UBS Financial Services, Inc. Wells Fargo Bank N.A. Co-Managers: Academy Securities Inc. Alamo Capital American Veterans Group, PBC AmeriVet Securities, Inc. Barclays Capital Inc. Bancroft Capital, LLC Blaylock Van, LLC BNY Mellon Capital Markets, LLC BofA Securities Inc. InspereX LLC Citigroup Global Markets Inc. Drexel Hamilton, LLC FHN Financial Capital Markets Great Pacific Securities, Inc Janney Montgomery Scott LLC Jefferies LLC J.P. Morgan Securities LLC Loop Capital Markets Melvin Securities LLC Mischler Financial Group, Inc. Morgan Stanley & Co. Inc. Oppenheimer & Co. Inc. Samuel A. Ramirez & Co. Inc. Raymond James & Associates, Inc. RBC Capital Markets LLC Rice Securities LLC Roosevelt & Cross, Inc. San Blas Securities LLC Siebert Williams Shank Stern Brothers & Co. Stifel, Nicolaus & Co. Inc. TD Securities (USA), LLC UBS Financial Services, Inc. Wells Fargo Bank N.A. Service-Disabled Veteran-Owned Business (SDVOB) SDVOB Goal: 6.00% Minority / Women Business Enterprise contracting goals (MWBE) Total MWBE Goals: 30.00%