TVA to Redeem Power Bonds
December 3, 2002
The Tennessee Valley Authority will redeem all of its 1998 Series A Power Bonds due January 15, 2018, on January 2, 2003.
TVA issued $250 million of the 6.35-percent bonds in January 1998. 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 Federal Reserve Banks.
TVA’s power bonds are traded on the bond market of the New York Stock Exchange, and its Putable Automatic Rate Reset Securities (PARRS) are traded on the New York Stock Exchange under the symbols TVC and TVE. All of TVA’s securities are publicly held.
TVA is wholly owned U.S. government agency and the nation’s largest public power system. Its power system is self-supporting through power revenues and proceeds from its power program financing. TVA provides power to large industries, federal agencies, and 158 power distributors that serve 8.3 million consumers in seven southeastern states.
View a complete list of TVA Power Bonds.
Media Contact:
John Moulton, Knoxville (865-632-8048) or TVA News Bureau, Knoxville (865-632-6000)
