TVA To Reset 1999 Series A (TVE) Power Bonds
Apr. 1, 2004
The Tennessee Valley Authority has announced that the coupon rate for the 1999 Series A Putable Automatic Rate Reset Securities (PARRS), traded on the New York Stock Exchange as TVE, will be reset from 6.5 percent to 5.618 percent on May 1, 2004.
The new coupon rate will be reflected in the interest payment made on Aug. 1, 2004. The 1999 Series A bonds can be identified by the CUSIP 880591409. The bonds mature on May 1, 2029.
Bondholders have the option of retaining the bonds at the new rate or putting (returning) the bonds to TVA for the par value of $25 per bond.
Bondholders who wish to return their bonds must notify the financial institution through which they hold their bonds to request repayment and authorize the financial institution to make arrangements with The Depository Trust Company to return their bonds to TVA. Arrangements must be completed no later than close of business on April 21, 2004.
The offering circular and legal notice that describe the 1999 Series A bonds, including the put option, are available on TVA’s Investor Relations website or by calling 1-888-882-4975.
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
