Treasurer Torsella Authorizes $1.5 Billion Line of Credit to General Fund

Administration makes initial draw of $400 million

Harrisburg, PA - Pennsylvania Treasurer Joe Torsella today announced the authorization of a $1.5 billion line of credit from Treasury’s Short-Term Investment Pool (STIP) to the Commonwealth’s General Fund to be paid back by April 21, 2020, at a variable interest rate equal to the SIFMA Swap Index Yield plus 40 basis points. The administration today made an initial draw of $400 million, at an interest rate of 1.52 percent.

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