Record for the Final Section 316(b) Existing Facilities Rule

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**Author:** Abt Associates Inc. **Date Created:** 7/14/2010 **Date Modified:** 2/27/2012 **Purpose:** Compiles Average Yield to Maturity on Selected Long-Term Bonds for use in the capital expenditures estimate

**Fi le Contents:**  **Worksheet Contents**  Average Calc Calculates the average bond yield for a specified type of bond AAA or BAA) and set of years Data Summary of AAA and BAA yields and the differential between them from 1976-2010 AAA yields AAA Bond Yield rate data from the Federal Reserve, 1976-2010 BAA yields BAA Bond Yield rate data from the Federal Reserve, 1976-2010

EPA-HQ-OW-2008-0667-DRAFT-3434 File Info 1Record for the Final Section 316(b) Existing Facilities Rule

1 2 3 4 A B C D E F G H **Bond Type** Baa Select type of bond (Aaa or Baa) **Range Start** 1999 Select first year of the period over which you want to average **Range End** 2010 Select last year of the period over which you want to average **Average Yield** 7.08

EPA-HQ-OW-2008-0667-DRAFT-3434 Average Calc 1Record for the Final Section 316(b) Existing Facilities Rule

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 A B C D E F G H I J K L M N O P Q **AVERAGE ANNUAL YIELD TO MATURITY ON SELECTED LONG-TERM BONDS.** http://www.federalreserve.gov/Releases/H15/data.htm

**Year Aaa**  **Baa Dif**  1976 8.43 9.75 1.32 1977 8.02 8.97 0.95 1978 8.73 9.49 0.76 1979 9.63 10.69 1.06 1980 11.94 13.67 1.73 1981 14.17 16.04 1.87 1982 13.79 16.11 2.32 1983 12.04 13.55 1.51 1984 12.71 14.19 1.48 1985 11.37 12.72 1.35 1986 9.02 10.39 1.37 1987 9.38 10.58 1.2 1988 9.71 10.83 1.12 1989 9.26 10.18 0.92 1990 9.32 10.36 1.04 1991 8.77 9.80 1.03 1992 8.14 8.98 0.84 1993 7.22 7.93 0.71 1994 7.97 8.63 0.66 1995 7.59 8.20 0.61 1996 7.37 8.05 0.68 1997 7.27 7.87 0.6 1998 6.53 7.22 0.69 1999 7.05 7.88 0.83 2000 7.62 8.37 0.75 2001 7.08 7.95 0.87 2002 6.49 7.80 1.31 2003 5.66 6.76 1.1 2004 5.63 6.39 0.76 2005 5.23 6.06 0.83 2006 5.59 6.48 0.89 2007 5.56 6.48 0.92 2008 5.63 7.44 1.81 2009 5.31 7.29 1.98 2010 4.94 6.04 1.1 

### 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17197619781980198219841986198819901992199419961998200020022004200620082010**A v** **e r** **a g** **e Y** **i e** **l d** **t o** **M a** **t u** **r i** **t y** 



### Year Aaa

Baa

Dif

EPA-HQ-OW-2008-0667-DRAFT-3434 Data 1Record for the Final Section 316(b) Existing Facilities Rule

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EPA-HQ-OW-2008-0667-DRAFT-3434 Data 2

### Record for the Final Section 316(b) Existing Facilities Rule

Instrument Maturity Frequency Description Note http://www.federalreserve.gov/Releases/H15/data.htm **Data downloaded 11/9/2011.** DATE AAANA 1976 8.43 1977 8.02 1978 8.73 1979 9.63 1980 11.94 1981 14.17 1982 13.79 1983 12.04 1984 12.71 1985 11.37 1986 9.02 1987 9.38 1988 9.71 1989 9.26 1990 9.32 1991 8.77 1992 8.14 1993 7.22 1994 7.97 1995 7.59 1996 7.37 1997 7.27 1998 6.53 1999 7.05 2000 7.62 2001 7.08 2002 6.49 2003 5.66 2004 5.63 2005 5.23 2006 5.59 2007 5.56 2008 5.63 2009 5.31 2010 4.94

EPA-HQ-OW -2008-0667-DRAFT-3434 AAA yields 1

### Record for the Final Section 316(b) Existing Facilities Rule

Corporate bonds/Moody's seasoned Aaa Not applicable Annual MOODY'S YIELD ON SEASONED CORPORATE BONDS - ALL INDUSTRIES, AAA Moody's Aaa rates through December 6, 2001, are averages of Aaa utility and Aaa industrial bond rates. As of December 7, 2001, these rates are averages of Aaa industrial bonds only. http://www.federalreserve.gov/Releases/H15/data.htm **Data downloaded 11/9/2011.**

EPA-HQ-OW -2008-0667-DRAFT-3434 AAA yields 2

### Record for the Final Section 316(b) Existing Facilities Rule

Moody's Aaa rates through December 6, 2001, are averages of Aaa utility and Aaa industrial bond rates. As of December 7, 2001, these rates are averages of Aaa industrial bonds only.

EPA-HQ-OW -2008-0667-DRAFT-3434 AAA yields 3

## Record for the Final Section 316(b) Existing Facilities Rule

Instrument Maturity Frequency Description http://www.federalreserve.gov/Releases/H15/data.htm **Data downloaded 11/9/2011.** DATE BAANA 1976 9.75 1977 8.97 1978 9.49 1979 10.69 1980 13.67 1981 16.04 1982 16.11 1983 13.55 1984 14.19 1985 12.72 1986 10.39 1987 10.58 1988 10.83 1989 10.18 1990 10.36 1991 9.8 1992 8.98 1993 7.93 1994 8.63 1995 8.2 1996 8.05 1997 7.87 1998 7.22 1999 7.88 2000 8.37 2001 7.95 2002 7.8 2003 6.76 2004 6.39 2005 6.06 2006 6.48 2007 6.48 2008 7.44 2009 7.29 2010 6.04

EPA-HQ-OW -2008-0667-DRAFT-3434 BAA y ields 1

## Record for the Final Section 316(b) Existing Facilities Rule

Corporate bonds/Moody 's seasoned Baa Not applicable Annual MOODY'S YIELD ON SEASONED CORPORATE BONDS - ALL INDUSTRIES, BAA http://www.federalreserve.gov/Releases/H15/data.htm **Data downloaded 11/9/2011.**

EPA-HQ-OW -2008-0667-DRAFT-3434 BAA y ields 2