Interest
RatesLENDING RATE MEMORANDUM
October 2, 2009
Listed below are the Current Average Lending Rates (ALR) used
by the Texas Water Development Board, assuming a level debt service. Actual
rates will vary with length and structure. The ALR listed
below are subject to change and availability of funds. These
rates are listed for comparative and marketing purposes only.
| |
AVERAGE |
AVERAGE RATE |
| GENERAL
OBLIGATION BONDS1) | LOAN
YRS | MARKET(2) |
TWDB |
| Development Fund (Tax Exempt) |
22 |
5.65% |
4.70% |
| Development Fund (Taxable) | 22 |
7.91% |
6.58% |
| EDAP/Tax Exempt: |
22 |
5.65% |
5.11% |
| State Participation* |
35 |
6.30% |
5.54% |
| Agricultural Loans (Taxable) |
7 |
4.83% |
0.41% |
| Rural Water Assistance Fund (AMT) |
40 |
N/A |
N/A% |
Rural Water Assistance Fund (Taxable)
|
40 |
N/A |
5.50% |
Water Infrastructure Fund |
20 |
5.65% |
2.15% |
| |
AVERAGE |
AVERAGE RATE |
| STATE REVOLVING FUNDS | LOAN
YRS | MARKET | TWDB(3) |
| Clean Water SRF (Insured)**
| 20 |
3.95% |
3.00% |
| Clean Water SRF (Non-Rated)** |
20 |
5.15% |
4.20% |
| | | | |
| Drinking Water SRF (Insured)***
| 20 |
3.95% |
2.45% |
| Drinking Water SRF (Non-Rated)*** |
20 |
5.15% | |
Note: new fixed GO bond rates approved by resolution at Board Meeting
on 12/04/07.
(1) Municipal bond insurance is not applicable on GO bonds.
(2) The GO Market ALR are based on a Baa (88 scale) rating assuming most entities are non-rated.
(3) Borrower's rates for Clean Water
and Drinking Water SRF loans will depend upon the security, which is pledged,
and the entity's corresponding rating. Actual rates are based upon market rates
minus a subsidy set 45 days before closing. Lending rates will be set from the daily Delphis Hanover Scale as required by Chapter 375, Texas Administrative Code.
(4) Actual DFund taxable and tax-exempt rates are set pursuant to TAC 363.33 and will be set at the higher of the Delphis or the Board's rate.
*Includes administrative cost recovery fee of .77%
**Includes loan origination charge
of 1.85%
***Includes loan origination charge of 2.25% Rates are
for illustrative purposes only.
<<Contact the TWDB staff in the Program
and Policy Development Division of the Office of Project Finance and Construction
Assistance at (512) 463-7853 for lending rate scale or other inquiries>>
page maintained
by Sandy Simon Dorothy.Nowlin@TWDB.State.Tx.US
|
