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SFPUC authorizes renewals and new short‑term bank facilities to support capital program
Summary
The commission approved five interim funding facilities (renewals and new credit lines) to support three enterprises’ commercial paper and liquidity needs, citing lower short‑term costs and diversification of bank counterparties; staff said facility fees range about 0.21%–0.42% and the approach reduces long‑term borrowing costs versus issuing 30‑year bonds.
The San Francisco Public Utilities Commission voted unanimously to approve a package of interim funding facilities intended to reduce borrowing costs for capital projects across the PUC’s water, wastewater and power enterprises.
Capital Finance Director Nikolai Sklaroff told the commission the program consists of five facilities: two power facilities (renewals with Bank of America) and three…
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