Lending Rate Memorandum — February 17, 2017
Listed below are the Illustrative Lending Rates (ILR) used by the Texas Water Development Board, as of the above date and assuming a level debt service. Actual rates will vary depending on length, time of closing and structure. Rates are for illustrative purposes only. Contact TWDB staff at (512) 463-6690 for lending rate scale or other inquiries.
The ILR listed below are subject to change and availability of funds. These rates are listed for comparative and marketing purposes only.
State Water Implementation Fund for Texas (SWIFT)
General Obligation Loan Programs
|Type of Funds||Terms||ESTIMATED RATE||VARIANCE|
|Market Rate (1)||TWDB Rate (2)|
|Development Fund (Tax Exempt)||20||3.85%||2.65%||1.20%|
|Development Fund (Tax Exempt)||30||4.26%||3.22%||1.04%|
|Development Fund (Taxable)||20||4.44%||3.81%||0.63%|
|EDAP (Tax Exempt)||20||3.85%||2.73%||1.12%|
|Agricultural Loans (Taxable)||7||3.17%||0.82%||2.35%|
|Rural Water Assistance Fund (Taxable)(5)||40||N/A||4.42%||N/A|
State Revolving Funds
|Type of Funds (4)||Terms||ESTIMATED RATE||VARIANCE|
|Market Rate||TWDB Rate (3)|
|Clean Water SRF Non-Equivalency (AA)||20||3.09%||1.89%||1.20%|
|Clean Water SRF Non-Equivalency (BAA)||20||3.85%||2.65%||1.20%|
|Clean Water SRF Equivalency (AA)||20||3.09%||1.54%||1.55%|
|Clean Water SRF Equivalency (BAA)||20||3.85%||2.30%||1.55%|
|Drinking Water SRF (AA)||20||3.09||1.84%||1.25%|
|Drinking Water SRF (BAA)||20||3.85%||2.60%||1.25%|
- Market GO rates are calculated from sample level debt service schedules using the BAA-rated MMD tax-exempt and taxable scales, as appropriate. Market data not available for 40 year maturities.
- TWDB GO rates are calculated from sample level debt service schedules using TWDB-adopted rate scales.
- Borrower's rates for Clean Water and Drinking Water SRF loans will depend upon the entity's corresponding rating.
- The Clean Water SRF program includes a loan origination charge of 1.85% of the principal, and the Drinking Water SRF program includes a loan origination charge of 2.25% of the principal.
- Based on Development Fund taxable rate; will vary if Rural Water Assistance AMT funds are available
Rates are for illustrative purposes only.