TVA to Redeem Debt Securities
June 10, 2002
On July 11, the Tennessee Valley Authority will redeem all $48.9 million of its 5.25 percent power bonds that were callable on or after May 15.
TVA issued the five-year securities in May 2001 as part of its electronotes series. 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 nation’s 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 632-6000)
