Resetting the Mission for WIFIA

The WIFIA Loan Program recently announced that it has reset the interest rates on two undrawn loan commitments originally made in mid-2018. The fixed rate on a $135 million loan to Orange County Water District and a $614 million loan to San Diego Public Facilities Financing Authority were reset downward from about 3.1 percent and 3.3 percent, respectively, to around 1 percent, reflecting the steady decline in the Treasury curve since the loans’ first-rate setting.