TVA To Redeem Debt Securities
December 14, 2004
On Jan. 15, 2005, the Tennessee Valley Authority will redeem all of its 2002 6.125-percent electronotes® due Jan. 15, 2017.
The bonds are identified by the CUSIP number 88059TAQ4. TVA issued approximately $62 million of the 88059TAQ4 bonds. By calling these bonds, TVA expects to save approximately $275,000 in annual interest expense.
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 electronotes® is a retail bond program that offers securities with 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 through power revenues and proceeds from power program financings. 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
