Revolving Credit Facility Service

A government authority located in California is seeking a vendor to provide a revolving credit facility service to replace its existing credit facility. The agency requires a revolving line of credit and a standby letter of credit facility in an aggregate amount between $60 million and $150 million. This facility will support power procurement, enable local development and programmatic investments, and meet general working capital needs to support long-term operations. The scope of work involves issuing new letters of credit and replacing existing ones to meet potential new cash collateral requirements. The selected provider may also need to provide a letter of credit to cover requirements related to provider of last resort rulemaking. All performance of the work will occur offsite. Eligible bidders must be onshore organizations based in the United States. The agency is looking for proposals to determine the budget and pricing structure for these services. Bidders must submit any questions regarding this opportunity no later than June 26, 2026, and the final response can be submitted digitally via email or online.