Interest Rates

Lending Rate Memorandum — November 27, 2020

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.

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)

Adopted rates made available for the Fall 2020 funding cycle of SWIFT/SWIRFT are shown below for tax-exempt funding.

General Obligation Loan Programs

Type of Funds Terms ESTIMATED RATE VARIANCE
Market Rate (1) TWDB Rate (2)
Development Fund (Tax Exempt) 20 2.77% 1.98% 0.79%
Development Fund (Tax Exempt) 30 3.39% 2.26% 1.13%
Development Fund (Taxable) 20 2.92% 3.20% -0.28%
EDAP (Tax Exempt) 20 2.77% N/A N/A
Agricultural Loans (Taxable) 7 1.71% 0.11% 1.60%
Rural Water Assistance Fund (Taxable)(3) 40 N/A 3.64% N/A

State Revolving Funds

For assistance please contact Mark Wyatt (mark.wyatt@twdb.texas.gov).

Table Legend
  1. 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 is not available for 40-year maturities. Market rates applicable to the State Revolving Funds utilize the 16th and 20th year MMD rates for the corresponding rating to approximate 20 and 30-year terms, respectively.
  2. TWDB GO rates are calculated from sample level debt service schedules using TWDB-adopted rate scales.
  3. Based on Development Fund taxable rate.

Rates are for illustrative purposes only.

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