2015 12: Historical Fixed-Rate Market and BATA Financing

As you can see on the chart, the average Revenue Bond Index since 2000 is a little over 5%, while the Bay Area Toll Authority's actual "all in" blended rate is nearly 100 basis points lower at 4%. That blended rate includes fixed rate, synthetic fixed rate, and variable rate debt. Our savings in debt service costs over the life of the financing are projected to exceed $2 billion. Looked at another way, our financing strategy has avoided about a $1.50 in higher tolls on all the state-owned bridges and has produced an outstanding financial result in a truly turbulent market.