TVA to Redeem Debt Securities
August 5, 2004
On Sept. 4, 2004, the Tennessee Valley Authority will redeem all of its 2001 6.25-percent electronotes® due June 15, 2016 and its 2001 6.25-percent electronotes® due July 15, 2016.
The bonds are identified by CUSIP numbers 88059TAC5 and 88059TAG6, respectively. TVA issued approximately $22 million of the 88059TAC5 bonds and $58 million of the 88059TAG6 bonds.
By calling the bonds, TVA expects to save approximately $600,000 in interest expense. The bonds will be redeemed at 100 percent of their par value.
The redemption price and any accrued interest will be paid to eligible holders of the electronotes® through The Depository Trust Company. TVA electronotes® is a retail bond program that offers securities with a variety of structures targeted to individual investors. The bonds are rated Aaa by Moody’s Investors Service and AAA by Standard and Poor’s and Fitch Ratings.
TVA is a wholly owned federal corporation and the nation’s largest public power provider. It is completely self-financed. TVA provides power to large industries and 158 power distributors that serve approximately 8.5 million consumers in seven southeastern states.
Media Contact:
John Moulton, Knoxville, (865) 632-8048
TVA News Bureau, Knoxville, (865) 632-6000
