The senior managing underwriter or investment banker is the firm responsible for structuring and marketing the bond issue. The indivdiuals assigned to the financing typically specilize in tax-exempt and health care or educational financing.
The senior manager's chief responsibility is to ensure his client (the borrower) the lowest possible cost of borrowing. The senior manager will perform the following services:
  • Secure the necessary approvals for financing.
  • Assist the institution with the decision on whether to have a feasibility study and, if so, in selection of the financial feasibility firm and review of the report.
  • Oversee the preparation of the Preliminary and Final Official Statements.
  • Analyze financing options (terms, variable vs. fixed rate, credit, etc.)
  • Structure the financing.
  • Assist in the rating process and/or selection of credit enhancement.

MHHEFA selects the senior manager on behalf of the borrower. The Authority makes its selection from the current list of Eligible Senior Underwriters.

The current list of Eligible Senior Underwriters responsible for the distribution and sale of bonds, as assigned by the Authority, is as follows: 

Periodically the Maine Health and Higher Educational Facilities Authority reviews its selection of Eligible Senior Underwriters. This list is subject to change.

For more information on determining Eligible Senior Underwriters please contact the MHHEFA Program Officer at (207) 622-1958.