TVA to Redeem Debt Securities
Nov. 14, 2003
On December 15, 2003, the Tennessee Valley Authority will redeem all of its 2001, 5.7-percent electronotes® due December 15, 2011.
The bonds are identified by the CUSIP number 88059TAP6.
TVA issued almost $15 million of the 2001, 5.7-percent electronotes®.
TVA is redeeming the bonds to take advantage of lower interest rates.
The estimated interest savings from refinancing the bonds is more than
$140,000 a year.
The bonds will be redeemed at 100 percent of their par value. The redemption price and any accrued interest will be paid to eligible holders of the electronotes® 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 U. S. government 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 8.3 million consumers in seven southeastern states.
Media Contact:
John Moulton, Knoxville (865-632-8048) or TVA News Bureau, Knoxville (865-632-6000)
