TVA to Redeem Debt Securities
Mar. 22, 2004
On April 21, 2004, the Tennessee Valley Authority will redeem three issues of electronotes®.
TVA will redeem all of its 2001 4.875-percent electronotes® due Nov.15, 2011; all of its 2001 5.75-percent electronotes® due Nov. 15, 2016; and all of its 2002 3.5-percent electronotes® due Sept.15, 2007.
These bonds are identified by the CUSIP numbers 88059TAK7, 88059TAL5, and 88059TBG5, respectively. TVA issued approximately $72 million of these securities as part of its electronotes® program.
TVA is redeeming the three issues to refinance at lower interest rates. By calling these bonds, TVA expects to save more than $450,000 in interest costs.
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’s electronotes® program offers securities in 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) or TVA News Bureau, Knoxville (865-632-6000)
