TVA
to Redeem Debt Securities
July
16, 2002
On August 19, the Tennessee Valley Authority will redeem all $21.8 million
of its 5.875-percent power bonds that were callable on or after July 15.
TVA
issued the seven-year securities in July 2001 as part of its electronotessm
program. The outstanding bonds will be redeemed at 100 percent of the
par amount plus applicable accrued interest. The redemption price and
accrued interest will be paid to eligible holders through The Depository
Trust Company.
TVA
is a wholly owned U.S. Government agency and the nations largest
public power system. Its power system is self-supporting through power
revenues and proceeds from the issuance of debt. TVA provides power to
large industries and 158 power distributors that serve 8.3 million consumers
in seven southeastern states.
Media Contact:
John
Moulton, Knoxville (865-632-8048) or TVA News Bureau, Knoxville (865-632-6000)
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