.container { padding-left: 12px; padding-right: 12px}@media (min-width: 992px) { .container-wide { max-width:120rem; padding-left: 3rem; padding-right: 3rem }}.site-wrapper { margin-top: 3.5rem; margin-left: 0; margin-right: 0; max-width: none; padding-left: 0; padding-right: 0; overflow-x: hidden}@media (min-width: 992px) { .site-wrapper { margin-top:6.75rem }}.header { padding-top: 0.75rem; position: fixed; z-index: 10; width: 100%; background-color: #fff; top: 0; height: 3.5rem}@media (min-width: 992px) { .header { padding-top:1.5rem; height: 6.75rem }}.header .tva-logo { color: #3f3f3f}.header .header-row { -ms-flex-align: center; align-items: center}@media (min-width: 1200px) { .header .header-row { -ms-flex-align:end; align-items: flex-end }}nav { display: none; background: white; position: fixed; width: 100%; padding-left: 12px; padding-right: 12px; top: 3.5rem; right: 0; box-shadow: 0px 5px 20px -15px rgba(0,0,0,0.5),15px 10px 20px -25px rgba(0,0,0,0.5),-15px 10px 20px -25px rgba(0,0,0,0.5)}nav.active { display: block}nav a,nav a:hover { text-decoration: none}@media (min-width: 768px) { nav { width:70vw; padding-left: 2rem; padding-right: 2rem }}@media (min-width: 992px) { nav { top:6.75rem; width: 40vw }}@media (min-width: 1200px) { nav { display:-ms-flexbox; display: flex; -ms-flex-positive: 1; flex-grow: 1; -ms-flex-negative: 0; flex-shrink: 0; -ms-flex-align: end; align-items: flex-end; margin-bottom: 0.3125rem; box-shadow: none; position: static; width: 100%; padding: 0 } nav.active { display: -ms-flexbox; display: flex }}.nav-control { display: block; border: none; background: none; padding: 0; width: 40px; margin-right: 0.625rem}@media (min-width: 1200px) { .nav-control { display:none }}.nav-control .line { position: relative; width: 40px; height: .2rem; margin-bottom: .4rem; background: #414141}.nav-control .line:last-of-type { margin-bottom: 0}.nav-control.active { padding: 15px 0 1px}.nav-control.active .line:first-child { -webkit-transform: rotate(-45deg); transform: rotate(-45deg)}.nav-control.active .line:last-child { -webkit-transform: rotate(45deg); transform: rotate(45deg); top: -9.5px}.nav-control.active .line:nth-child(2) { display: none}.nav-item-group { position: relative; max-width: 540px; margin-left: auto; margin-right: auto; padding-left: 0.187rem; padding-right: 0.187rem; margin-bottom: 1rem}@media (min-width: 576px) { .nav-item-group { padding-left:12px; padding-right: 12px }}@media (min-width: 768px) { .nav-item-group { max-width:none; padding-left: 0; padding-right: 0; margin-left: 0; margin-right: 0 }}@media (min-width: 1200px) { .nav-item-group { margin-bottom:0; margin-right: 1.1%; margin-left: 1.1% }}.nav-item-group a:hover,.nav-item-group a:focus { color: #717171}.nav-item-group.cat-env a:hover { color: #6A9033}.nav-item-group.cat-energy a:hover { color: #E56027}.nav-item-group.cat-econ a:hover { color: #2C9199}.nav-item-group.cat-about a:hover { color: #447DAE}.nav-item-group.cat-kidswhat a:hover { color: #004b85}.nav-item-group.cat-kidselec a:hover { color: #e43c31}.nav-item-group.cat-kidsenv a:hover { color: #7fbd42}.nav-item-group.cat-kidsriv a:hover { color: #29afca}.nav-item-group.cat-kidshis a:hover { color: #ffc428}.nav-item-group.cat-kidsres a:hover { color: #004b85}.nav-item-group.cat-env a:focus { color: #6A9033}.nav-item-group.cat-energy a:focus { color: #E56027}.nav-item-group.cat-econ a:focus { color: #2C9199}.nav-item-group.cat-about a:focus { color: #447DAE}.nav-item-group.cat-kidswhat a:focus { color: #004b85}.nav-item-group.cat-kidselec a:focus { color: #e43c31}.nav-item-group.cat-kidsenv a:focus { color: #7fbd42}.nav-item-group.cat-kidsriv a:focus { color: #29afca}.nav-item-group.cat-kidshis a:focus { color: #ffc428}.nav-item-group.cat-kidsres a:focus { color: #004b85}.nav-item-group.cat-env .sub-nav-list { border-color: #6A9033}.nav-item-group.cat-energy .sub-nav-list { border-color: #E56027}.nav-item-group.cat-econ .sub-nav-list { border-color: #2C9199}.nav-item-group.cat-about .sub-nav-list { border-color: #447DAE}.nav-item-group.cat-kidswhat .sub-nav-list { border-color: #004b85}.nav-item-group.cat-kidselec .sub-nav-list { border-color: #e43c31}.nav-item-group.cat-kidsenv .sub-nav-list { border-color: #7fbd42}.nav-item-group.cat-kidsriv .sub-nav-list { border-color: #29afca}.nav-item-group.cat-kidshis .sub-nav-list { border-color: #ffc428}.nav-item-group.cat-kidsres .sub-nav-list { border-color: #004b85}.nav-item { font-size: 0.7rem; font-weight: 500; letter-spacing: .126em; text-transform: uppercase; color: #414141; position: relative}.nav-heading { display: inline-block; width: 100%; border: none; cursor: pointer}@media (min-width: 1200px) and (hover: hover) { .nav-heading { display:none }}.nav-heading-link { display: none}@media (min-width: 1200px) and (hover: hover) { .nav-heading-link { display:inline-block }}@media (min-width: 1200px) and (hover: hover) { .nav-item-overview { display:none }}.nav-item-group:focus-within .nav-heading,.nav-item-group:focus-within .nav-heading-link { color: #717171}.nav-item-group:focus-within.cat-env .nav-heading { color: #6A9033}.nav-item-group:focus-within.cat-energy .nav-heading { color: #E56027}.nav-item-group:focus-within.cat-econ .nav-heading { color: #2C9199}.nav-item-group:focus-within.cat-about .nav-heading { color: #447DAE}.nav-item-group:focus-within.cat-kidswhat .nav-heading { color: #004b85}.nav-item-group:focus-within.cat-kidselec .nav-heading { color: #e43c31}.nav-item-group:focus-within.cat-kidsenv .nav-heading { color: #7fbd42}.nav-item-group:focus-within.cat-kidsriv .nav-heading { color: #29afca}.nav-item-group:focus-within.cat-kidshis .nav-heading { color: #ffc428}.nav-item-group:focus-within.cat-kidsres .nav-heading { color: #004b85}.nav-item-group:focus-within.cat-env .nav-heading-link { color: #6A9033}.nav-item-group:focus-within.cat-energy .nav-heading-link { color: #E56027}.nav-item-group:focus-within.cat-econ .nav-heading-link { color: #2C9199}.nav-item-group:focus-within.cat-about .nav-heading-link { color: #447DAE}.nav-item-group:focus-within.cat-kidswhat .nav-heading-link { color: #004b85}.nav-item-group:focus-within.cat-kidselec .nav-heading-link { color: #e43c31}.nav-item-group:focus-within.cat-kidsenv .nav-heading-link { color: #7fbd42}.nav-item-group:focus-within.cat-kidsriv .nav-heading-link { color: #29afca}.nav-item-group:focus-within.cat-kidshis .nav-heading-link { color: #ffc428}.nav-item-group:focus-within.cat-kidsres .nav-heading-link { color: #004b85}.nav-item-group.focus-within .nav-heading,.nav-item-group.focus-within .nav-heading-link,.nav-item-group.active .nav-heading,.nav-item-group.active .nav-heading-link,.nav-item-group:hover .nav-heading,.nav-item-group:hover .nav-heading-link { color: #717171}.nav-item-group.focus-within.cat-env .nav-heading,.nav-item-group.active.cat-env .nav-heading,.nav-item-group:hover.cat-env .nav-heading { color: #6A9033}.nav-item-group.focus-within.cat-energy .nav-heading,.nav-item-group.active.cat-energy .nav-heading,.nav-item-group:hover.cat-energy .nav-heading { color: #E56027}.nav-item-group.focus-within.cat-econ .nav-heading,.nav-item-group.active.cat-econ .nav-heading,.nav-item-group:hover.cat-econ .nav-heading { color: #2C9199}.nav-item-group.focus-within.cat-about .nav-heading,.nav-item-group.active.cat-about .nav-heading,.nav-item-group:hover.cat-about .nav-heading { color: #447DAE}.nav-item-group.focus-within.cat-kidswhat .nav-heading,.nav-item-group.active.cat-kidswhat .nav-heading,.nav-item-group:hover.cat-kidswhat .nav-heading { color: #004b85}.nav-item-group.focus-within.cat-kidselec .nav-heading,.nav-item-group.active.cat-kidselec .nav-heading,.nav-item-group:hover.cat-kidselec .nav-heading { color: #e43c31}.nav-item-group.focus-within.cat-kidsenv .nav-heading,.nav-item-group.active.cat-kidsenv .nav-heading,.nav-item-group:hover.cat-kidsenv .nav-heading { color: #7fbd42}.nav-item-group.focus-within.cat-kidsriv .nav-heading,.nav-item-group.active.cat-kidsriv .nav-heading,.nav-item-group:hover.cat-kidsriv .nav-heading { color: #29afca}.nav-item-group.focus-within.cat-kidshis .nav-heading,.nav-item-group.active.cat-kidshis .nav-heading,.nav-item-group:hover.cat-kidshis .nav-heading { color: #ffc428}.nav-item-group.focus-within.cat-kidsres .nav-heading,.nav-item-group.active.cat-kidsres .nav-heading,.nav-item-group:hover.cat-kidsres .nav-heading { color: #004b85}.nav-item-group.focus-within.cat-env .nav-heading-link,.nav-item-group.active.cat-env .nav-heading-link,.nav-item-group:hover.cat-env .nav-heading-link { color: #6A9033}.nav-item-group.focus-within.cat-energy .nav-heading-link,.nav-item-group.active.cat-energy .nav-heading-link,.nav-item-group:hover.cat-energy .nav-heading-link { color: #E56027}.nav-item-group.focus-within.cat-econ .nav-heading-link,.nav-item-group.active.cat-econ .nav-heading-link,.nav-item-group:hover.cat-econ .nav-heading-link { color: #2C9199}.nav-item-group.focus-within.cat-about .nav-heading-link,.nav-item-group.active.cat-about .nav-heading-link,.nav-item-group:hover.cat-about .nav-heading-link { color: #447DAE}.nav-item-group.focus-within.cat-kidswhat .nav-heading-link,.nav-item-group.active.cat-kidswhat .nav-heading-link,.nav-item-group:hover.cat-kidswhat .nav-heading-link { color: #004b85}.nav-item-group.focus-within.cat-kidselec .nav-heading-link,.nav-item-group.active.cat-kidselec .nav-heading-link,.nav-item-group:hover.cat-kidselec .nav-heading-link { color: #e43c31}.nav-item-group.focus-within.cat-kidsenv .nav-heading-link,.nav-item-group.active.cat-kidsenv .nav-heading-link,.nav-item-group:hover.cat-kidsenv .nav-heading-link { color: #7fbd42}.nav-item-group.focus-within.cat-kidsriv .nav-heading-link,.nav-item-group.active.cat-kidsriv .nav-heading-link,.nav-item-group:hover.cat-kidsriv .nav-heading-link { color: #29afca}.nav-item-group.focus-within.cat-kidshis .nav-heading-link,.nav-item-group.active.cat-kidshis .nav-heading-link,.nav-item-group:hover.cat-kidshis .nav-heading-link { color: #ffc428}.nav-item-group.focus-within.cat-kidsres .nav-heading-link,.nav-item-group.active.cat-kidsres .nav-heading-link,.nav-item-group:hover.cat-kidsres .nav-heading-link { color: #004b85}.sub-nav { background: white; display: -ms-flexbox; display: flex; -ms-flex-direction: row; flex-direction: row; list-style: none; padding: 1rem 1rem 0; position: absolute; clip: rect(1px, 1px, 1px, 1px)}.nav-item-group:focus-within .sub-nav { clip: auto; position: relative}.nav-item-group.focus-within .sub-nav,.nav-item-group.active .sub-nav { clip: auto; position: relative}@media (min-width: 1200px) { .sub-nav { position:absolute; width: 40rem; left: -12.4rem; padding: 3.25rem 1rem 1rem; box-shadow: 0px 5px 20px -15px rgba(0,0,0,0.5),15px 10px 20px -25px rgba(0,0,0,0.5),-15px 10px 20px -25px rgba(0,0,0,0.5) } .sub-nav.sub-nav-align-right { left: auto; right: -1rem } .nav-item-group:focus-within .sub-nav { clip: auto; position: absolute } .nav-item-group.focus-within .sub-nav,.nav-item-group.active .sub-nav,.nav-item-group:hover .sub-nav { clip: auto; position: absolute }}.sub-nav-image { min-height: 13rem; position: relative; -ms-flex-positive: 1; flex-grow: 1; max-width: 10rem; background-size: cover; background-repeat: no-repeat}@media (max-width: 1199.98px) { .sub-nav-image { display:none }}.sub-nav-list { -ms-flex-positive: 1; flex-grow: 1; list-style: none; padding-left: 0; position: relative; margin-bottom: 0}@media (min-width: 1200px) { .sub-nav-list { border-top:5px solid #202020; padding-top: 1rem; margin-left: 1.4rem }}.sub-nav-list .nav-item { color: #414141}.sub-nav-list .nav-item:not(:last-child) { margin-bottom: 1rem}.nav-row-icon { -webkit-transform: rotate(-90deg); transform: rotate(-90deg); position: absolute; right: 13%}@media (min-width: 768px) { .nav-row-icon { right:1rem }}@media (min-width: 992px) { .nav-row-icon { right:3rem }}@media (min-width: 1200px) { .nav-row-icon { display:none }}.nav-row-icon svg * { fill: #414141}.nav-item-group:focus-within .nav-row-icon { -webkit-transform: rotate(0deg); transform: rotate(0deg)}.nav-item-group.focus-within .nav-row-icon,.nav-item-group.active .nav-row-icon { -webkit-transform: rotate(0deg); transform: rotate(0deg)}.search-control { border: none; background: none; padding: 0; display: -ms-flexbox; display: flex}@media (min-width: 1200px) { .search-control { display:none }}.search-form { display: -ms-flexbox; display: flex; margin-bottom: 0.25rem}@media (max-width: 1199.98px) { .search-form { display:none; background: white; position: fixed; top: 6.75rem; right: 0; width: 40vw; padding-top: 1.25rem; padding-right: 1.563rem; padding-bottom: 1.563rem; padding-left: 0.75rem; margin-bottom: 0 } .search-form.active { display: -ms-flexbox; display: flex }}@media (max-width: 991.98px) { .search-form { width:70vw; top: 3.5rem }}@media (max-width: 767.98px) { .search-form { width:100% }}@media (max-width: 1199.98px) { .search-form .form-inline { width:calc((100% - 1.312rem) - 1.125rem) }}.search-form .form-group { width: 100%; display: -ms-flexbox; display: flex; padding: 0; margin: 0}.search-form .form-group input { margin: 0; width: calc(100% - 3.375rem); height: 1.5rem; border: solid 1px #414141; border-right: 0; border-radius: 0; background-color: #ffffff; box-shadow: none; font-size: 0.7rem; font-weight: normal; letter-spacing: 0.41px; line-height: 1}@media (min-width: 992px) { .search-form .form-group input { width:calc(100% - 2.25rem) }}.search-form .form-group input::-webkit-input-placeholder { color: #717171}.search-form .form-group input::-ms-input-placeholder { color: #717171}.search-form .form-group input::placeholder { color: #717171}.search-form .form-group .btn { position: relative; border: 0; padding: 0; margin: 0 !important; width: 3.375rem; min-height: 0; height: 1.5rem; background: #414141; color: white; opacity: 1; font-size: 0.5rem; font-weight: bold; cursor: pointer}@media (min-width: 992px) { .search-form .form-group .btn { font-size:0; width: 2.25rem }}@media (min-width: 992px) { .search-form .form-group .btn::before { content:''; width: 1.813rem; height: 0.813rem; position: absolute; left: 50%; top: 50%; -webkit-transform: translate(-50%, -50%); transform: translate(-50%, -50%); background-image: url("data:image/svg+xml;base64,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"); background-repeat: no-repeat; background-position: center }}.search-form .close-control { border: none; background: none; padding: 0; display: -ms-flexbox; display: flex; margin-right: 1.125rem}@media (min-width: 1200px) { .search-form .close-control { display:none }}.sf-search-results .sf-media-body { margin-bottom: 1.5rem}footer { background-color: #202020; color: white; padding: 2.5rem 0}@media (min-width: 992px) { footer { margin-top:6rem; padding: 5rem 0 }}footer div { color: inherit}footer h3 { letter-spacing: 0.18em; font-size: 0.625rem; font-weight: 300; text-transform: uppercase; border-top: 1px solid white; margin-top: 2.3rem; padding-top: 2px; margin-bottom: 1.6em; line-height: 1.5}@media (min-width: 768px) { footer h3 { border-top:none; padding-top: 0; line-height: 1.3 }}@media (min-width: 992px) { footer h3 { margin-top:0; margin-bottom: 0.8em; font-size: 0.85rem }}footer ul { list-style: none; padding-left: 0}footer ul li { font-size: 0.625rem; line-height: 1.2; text-transform: uppercase; letter-spacing: 0.18em; font-weight: 500; margin-bottom: 1.6em}@media (min-width: 992px) { footer ul li { font-size:0.85rem; margin-bottom: 0.8em }}footer ul li a { color: inherit; line-height: inherit; font-size: inherit; text-decoration: none}footer ul li a:hover { color: inherit}footer .social-icon { padding: 0.25rem}footer .social-icon:hover { text-decoration: none}footer .social-icon img { width: 1.25rem}.tva-logo { display: block}.tva-logo img { width: 7.25rem}@media (min-width: 992px) { .tva-logo img { width:12rem }}.section-hero { display: -ms-flexbox; display: flex; -ms-flex-direction: column; flex-direction: column; -ms-flex-pack: center; justify-content: center; min-height: 125vw; margin-top: 3.5rem; margin-bottom: 3.5rem; background-size: cover; background-position: center; overflow: hidden; position: relative}.section-hero.cat-env .section-hero-overlay:after { background-color: #6A9033}.section-hero.cat-energy .section-hero-overlay:after { background-color: #E56027}.section-hero.cat-econ .section-hero-overlay:after { background-color: #2C9199}.section-hero.cat-about .section-hero-overlay:after { background-color: #447DAE}.section-hero.cat-kidswhat .section-hero-overlay:after { background-color: #004b85}.section-hero.cat-kidselec .section-hero-overlay:after { background-color: #e43c31}.section-hero.cat-kidsenv .section-hero-overlay:after { background-color: #7fbd42}.section-hero.cat-kidsriv .section-hero-overlay:after { background-color: #29afca}.section-hero.cat-kidshis .section-hero-overlay:after { background-color: #ffc428}.section-hero.cat-kidsres .section-hero-overlay:after { background-color: #004b85}@media (min-width: 576px) { .section-hero { min-height:55vw; margin-top: 2.75rem; margin-bottom: 2.75rem; padding: 4rem 1.5rem 2rem }}@media (min-width: 1200px) { .section-hero { min-height:40vw; margin-top: 3rem; margin-bottom: 3rem }}.section-hero .section-hero-overlay { display: inline-block}.section-hero .section-hero-overlay::after { width: 100vw; height: 800px; -webkit-transform: translate(0, -50%); transform: translate(0, -50%); position: absolute; content: ''; top: 50%; left: 0; mix-blend-mode: multiply}@media (min-width: 768px) { .section-hero .section-hero-overlay { position:relative } .section-hero .section-hero-overlay::after { -webkit-transform: translate(0, -50%) skew(-20deg); transform: translate(0, -50%) skew(-20deg); right: -100px; left: auto }}.section-hero a { text-decoration: none}.section-hero a:hover { text-decoration: none}.section-hero h3 { color: white; font-size: 3.7rem; letter-spacing: -0.03em; font-weight: 700; line-height: 0.85; display: inline-block; margin-bottom: 0.15em; position: relative; z-index: 1}@media (min-width: 768px) { .section-hero h3 { font-size:5.5rem }}@media (min-width: 1200px) { .section-hero h3 { font-size:9rem }}.section-hero p { color: white; width: 15rem; font-size: 1.2rem; letter-spacing: 0.015em; font-weight: 400; line-height: 1.15; position: relative; z-index: 1}@media (min-width: 1200px) { .section-hero p { font-size:1.7rem; width: 20rem }}.slick-arrow { font-size: 0; line-height: 0; position: absolute; display: block; width: 20px; height: 20px; padding: 0; cursor: pointer; color: transparent; border: none; outline: none; background: transparent; z-index: 1}.slick-arrow::before { display: inline-block; width: 0.875rem}.slick-dots { position: absolute; display: block; width: 100%; padding: 0; margin: 0; list-style: none; text-align: center}.slick-dots li { position: relative; display: inline-block; width: 20px; height: 20px; padding: 0; margin: 0 2px; cursor: pointer}.slick-dots li button { font-size: 0; line-height: 0; display: block; width: 20px; height: 20px; padding: 5px; cursor: pointer; color: transparent; border: 0; outline: none; background: transparent}.slick-dots li button::before { font-size: 40px; line-height: 20px; position: absolute; top: 0; left: 0; width: 20px; height: 20px; content: "•"; text-align: center; -webkit-font-smoothing: antialiased; -moz-osx-font-smoothing: grayscale}.hero-carousel { margin-bottom: 0.75rem}.hero-carousel .slick-slider.slick-dotted { margin-bottom: 0}.hero-carousel .slick-dots { bottom: 10px}@media (min-width: 768px) { .hero-carousel .slick-dots { bottom:20px }}.hero-carousel .slick-dots li button::before { color: #f8f8f8; opacity: 0.65}.hero-carousel .slick-dots li.slick-active button::before { color: #f8f8f8; opacity: 1}.hero-carousel .slick-track { display: -ms-flexbox; display: flex}.hero-carousel .slick-slide { height: auto}.hero-carousel .slick-slide:not(.slick-current) { cursor: pointer}.hero-carousel .slick-slide:focus { outline: 0 !important}.hero-carousel .section-hero { margin-top: 0; margin-bottom: 0; height: 100%}@media (min-width: 768px) { .hero-carousel .section-hero { border-left:6px solid white; border-right: 6px solid white }}.hero-carousel-inner div:not(:first-child) { display: none}.hero-carousel-inner.slick-initialized div:not(:first-child) { display: block}.resources-carousel { margin-bottom: 10rem; margin-top: 3.5rem}@media (min-width: 768px) { .resources-carousel { margin-top:2.75rem }}@media (min-width: 1200px) { .resources-carousel { margin-top:3rem }}.resources-carousel h2 { font-size: 1.75rem; font-weight: 500; line-height: 1; width: 7em; border: none; margin-top: 0; padding-top: 0; margin-bottom: 2rem}@media (min-width: 992px) { .resources-carousel h2 { font-size:2.15rem }}.resources-carousel .slick-dots { bottom: -5rem}.resources-carousel .slick-dots li button::before { color: #9f9f9f; opacity: 1}.resources-carousel .slick-dots li.slick-active button::before { color: #414141; opacity: 1}.resources-carousel .slick-arrow { bottom: -5rem}.resources-carousel .slick-prev { left: 0}.resources-carousel .slick-prev::before { content: url("data:image/svg+xml,%3Csvg xmlns='http://www.w3.org/2000/svg' viewBox='0 0 10 14'%3E%3Cpath d='M10 0L0 7l10 7v-3.4310306L4.90071577 7 10 3.42944507z' fill='%23414141' fill-rule='nonzero'/%3E%3C/svg%3E%0A")}.resources-carousel .slick-next { right: 0}.resources-carousel .slick-next::before { content: url("data:image/svg+xml,%3Csvg xmlns='http://www.w3.org/2000/svg' viewBox='0 0 7 10'%3E%3Cpath d='M0 0l6.97451995 4.88216397L0 9.76432793V7.37134881l3.55650596-2.48918484L0 2.39187331z' fill='%23414141' fill-rule='nonzero'/%3E%3C/svg%3E%0A")}.resources-carousel-inner { display: none}.resources-carousel-inner.slick-initialized { display: block}.resources-carousel-item { margin-left: 5px; margin-right: 5px}.resources-carousel-item img { width: 100%}.resources-carousel-item a { display: block; text-decoration: none; margin-top: 2.5rem}.resources-carousel-item a::before { border-top: 5px solid; content: ""; display: block; -webkit-transform-origin: top; transform-origin: top; transition: -webkit-transform 0.2s; transition: transform 0.2s; transition: transform 0.2s, -webkit-transform 0.2s}.resources-carousel-item a:hover,.resources-carousel-item a:focus { color: #717171}.resources-carousel-item a:hover::before,.resources-carousel-item a:focus::before { -webkit-transform: scaleY(1.8); transform: scaleY(1.8)}.resources-carousel-item h3 { font-size: 1.75rem; font-weight: 500; line-height: 1; margin-top: 0; margin-bottom: 0; padding-top: 0.25em; padding-bottom: 0.25em}@media (min-width: 992px) { .resources-carousel-item h3 { font-size:2.15rem }}.resources-carousel-item.cat-env a::before { border-color: #6A9033}.resources-carousel-item.cat-energy a::before { border-color: #E56027}.resources-carousel-item.cat-econ a::before { border-color: #2C9199}.resources-carousel-item.cat-about a::before { border-color: #447DAE}.resources-carousel-item.cat-kidswhat a::before { border-color: #004b85}.resources-carousel-item.cat-kidselec a::before { border-color: #e43c31}.resources-carousel-item.cat-kidsenv a::before { border-color: #7fbd42}.resources-carousel-item.cat-kidsriv a::before { border-color: #29afca}.resources-carousel-item.cat-kidshis a::before { border-color: #ffc428}.resources-carousel-item.cat-kidsres a::before { border-color: #004b85}.home-content,.home-resources { margin-bottom: 2rem}.home-content h3,.home-content h4,.home-resources h3,.home-resources h4 { font-size: 1.75rem; font-weight: 500; line-height: 1; margin-top: 0; margin-bottom: 0; padding-top: 0.25em; padding-bottom: 0.25em}@media (min-width: 992px) { .home-content h3,.home-content h4,.home-resources h3,.home-resources h4 { font-size:2.15rem }}.home-content.cat-env a::before { border-color: #6A9033}.home-content.cat-energy a::before { border-color: #E56027}.home-content.cat-econ a::before { border-color: #2C9199}.home-content.cat-about a::before { border-color: #447DAE}.home-content.cat-kidswhat a::before { border-color: #004b85}.home-content.cat-kidselec a::before { border-color: #e43c31}.home-content.cat-kidsenv a::before { border-color: #7fbd42}.home-content.cat-kidsriv a::before { border-color: #29afca}.home-content.cat-kidshis a::before { border-color: #ffc428}.home-content.cat-kidsres a::before { border-color: #004b85}@media (min-width: 992px) { .home-content { min-height:13rem }}.home-content a { display: block; text-decoration: none}.home-content a::before { border-top: 5px solid; content: ''; display: block; -webkit-transform-origin: top; transform-origin: top; transition: -webkit-transform 0.2s; transition: transform 0.2s; transition: transform 0.2s, -webkit-transform 0.2s}.home-content a:hover,.home-content a:focus { color: #717171}.home-content a:hover::before,.home-content a:focus::before { -webkit-transform: scaleY(1.8); transform: scaleY(1.8)}.home-content p { max-width: 16.7em; letter-spacing: 0.03em; font-weight: 400}@media (min-width: 992px) { .home-content p { margin-right:1em }}.home-resources h4 { margin-bottom: 1rem; border-top: 5px solid}.home-resources.cat-env h4 { border-color: #6A9033}.home-resources.cat-energy h4 { border-color: #E56027}.home-resources.cat-econ h4 { border-color: #2C9199}.home-resources.cat-about h4 { border-color: #447DAE}.home-resources.cat-kidswhat h4 { border-color: #004b85}.home-resources.cat-kidselec h4 { border-color: #e43c31}.home-resources.cat-kidsenv h4 { border-color: #7fbd42}.home-resources.cat-kidsriv h4 { border-color: #29afca}.home-resources.cat-kidshis h4 { border-color: #ffc428}.home-resources.cat-kidsres h4 { border-color: #004b85}.home-resources p { font-weight: 500; margin-bottom: 0.75em}@media (min-width: 992px) { .home-resources p { font-size:1.2rem }}.home-resources a { display: block; text-decoration: none}.home-resources a::after { content: '\2060'; background-image: url("data:image/svg+xml,%3Csvg xmlns='http://www.w3.org/2000/svg' viewBox='0 0 7 10'%3E%3Cpath d='M0 0l6.97451995 4.88216397L0 9.76432793V7.37134881l3.55650596-2.48918484L0 2.39187331z' fill='%23000' fill-rule='nonzero'/%3E%3C/svg%3E%0A"); padding-left: 0.5em; margin-left: 0.75em; background-repeat: no-repeat; background-size: contain; background-position: center; vertical-align: middle}.home-resources a:hover,.home-resources a:focus { color: #717171}.home-resources a:hover::after,.home-resources a:focus::after { background-image: url("data:image/svg+xml,%3Csvg xmlns='http://www.w3.org/2000/svg' viewBox='0 0 7 10'%3E%3Cpath d='M0 0l6.97451995 4.88216397L0 9.76432793V7.37134881l3.55650596-2.48918484L0 2.39187331z' fill='%23717171' fill-rule='nonzero'/%3E%3C/svg%3E%0A")}.bg-img-block { padding: 4.5rem 0; background-size: cover; background-position: left center; margin-bottom: 0.75rem}@media (min-width: 992px) { .bg-img-block { padding:3.4rem 0.5rem; min-height: 18.6rem; height: 100% }}.bg-img-block h3 { font-size: 1.375rem; font-weight: 700; line-height: 1; margin-bottom: 0.75em; color: white}@media (min-width: 992px) { .bg-img-block h3 { font-size:2.1rem; min-height: 2em; max-width: 50%; margin-bottom: 1.5em }}.bg-img-block p { font-weight: 500; max-width: 10rem; color: white}@media (min-width: 992px) { .bg-img-block p { font-size:1.3rem }}.bg-img-block a { display: block; text-decoration: none}.bg-img-block a::after { content: '\2060'; background-image: url("data:image/svg+xml,%3Csvg xmlns='http://www.w3.org/2000/svg' viewBox='0 0 7 10'%3E%3Cpath d='M0 0l6.97451995 4.88216397L0 9.76432793V7.37134881l3.55650596-2.48918484L0 2.39187331z' fill='%23fff' fill-rule='nonzero'/%3E%3C/svg%3E%0A"); padding-left: 0.5em; margin-left: 0.75em; background-repeat: no-repeat; background-size: contain; background-position: center; vertical-align: middle}.bg-img-block a:hover,.bg-img-block a:focus { color: #ddd}.bg-img-block a:hover::after,.bg-img-block a:focus::after { background-image: url("data:image/svg+xml,%3Csvg xmlns='http://www.w3.org/2000/svg' viewBox='0 0 7 10'%3E%3Cpath d='M0 0l6.97451995 4.88216397L0 9.76432793V7.37134881l3.55650596-2.48918484L0 2.39187331z' fill='%23ddd' fill-rule='nonzero'/%3E%3C/svg%3E%0A")}[class*="hover-swap-img"] { display: none}[class*="hover-swap-img"]:first-child { display: block}[class*="hover-swap-area"] { position: relative}@media (max-width: 767.98px) { [class*="hover-swap-area"] { display:none }}[class*="hover-swap-area"] [class*="hover-swap-img"] { display: block; position: absolute; top: 0; left: 0}[class*="hover-swap-area"] [class*="hover-swap-img"]:first-child { z-index: 1; position: relative}[class*="hover-swap-area"] [class*="hover-swap-img"].active { z-index: 2}.breadcrumb { padding: 0; text-transform: uppercase; font-weight: 500; font-size: 0.75rem; letter-spacing: 0.125em; margin-bottom: 1.5rem}.breadcrumb::before { content: 'You are here: '; padding-right: 0.5rem}.breadcrumb li,.breadcrumb li a,.breadcrumb li.active { font-size: inherit; color: inherit; line-height: inherit}.breadcrumb a { text-decoration: none}.breadcrumb a:hover,.breadcrumb a:focus { text-decoration: underline}.lead { border-top: 5px solid; font-size: 1.25rem; font-weight: 500; line-height: 1.5; padding-top: 0.5rem; margin-bottom: 1rem}.page-category-env .lead { border-color: #6a9033}.page-category-energy .lead { border-color: #e56027}.page-category-econ .lead { border-color: #2c9199}.page-category-about .lead { border-color: #447dae}.page-category-kidswhat .lead { border-color: #004b85}.page-category-kidselec .lead { border-color: #e43c31}.page-category-kidsenv .lead { border-color: #7fbd42}.page-category-kidsriv .lead { border-color: #29afca}.page-category-kidshis .lead { border-color: #ffc428}.page-category-kidsres .lead { border-color: #004b85}.card .card-img-top { border-radius: 0}.card .card-body { padding-left: 0; padding-right: 0}.card .card-body .card-title { font-size: 2.15rem; font-weight: 500; line-height: 1; color: inherit; margin-top: 1rem; padding-top: 0.25em; margin-bottom: 0.25em; border-top: 5px solid}.page-category-env .card .card-body .card-title { border-color: #6a9033}.page-category-energy .card .card-body .card-title { border-color: #e56027}.page-category-econ .card .card-body .card-title { border-color: #2c9199}.page-category-about .card .card-body .card-title { border-color: #447dae}.page-category-kidswhat .card .card-body .card-title { border-color: #004b85}.page-category-kidselec .card .card-body .card-title { border-color: #e43c31}.page-category-kidsenv .card .card-body .card-title { border-color: #7fbd42}.page-category-kidsriv .card .card-body .card-title { border-color: #29afca}.page-category-kidshis .card .card-body .card-title { border-color: #ffc428}.page-category-kidsres .card .card-body .card-title { border-color: #004b85}.card .card-body a.btn.btn-primary { color: inherit; font-weight: 400; text-transform: none; letter-spacing: 0.02em; display: inline; font-size: inherit}.form-control { border: 1px solid black; border-radius: 0; text-transform: uppercase; font-size: 0.75rem; font-weight: 500; letter-spacing: 0.125em; height: 2.5rem; box-shadow: none}.btn { background-color: transparent; border-radius: 0; text-transform: uppercase; font-size: 0.75rem; font-weight: 500; letter-spacing: 0.125em; min-height: 2.5rem; padding: 0.6rem 2.5rem}.btn.btn-primary { color: black; background-color: white; border: 1px solid black}.btn.btn-link { color: inherit}.main-body .col,.main-body [class*="col-"] { margin-bottom: 3.5rem}.main-body h2:not(:first-child) { margin-top: 3.5rem}.main-body h3:not(:first-child),.main-body h4:not(:first-child),.main-body h5:not(:first-child),.main-body h6:not(:first-child) { margin-top: 2.5rem}.sidebar h3 { border-top: 1px solid; padding-top: 0.2em}.page-category-env .sidebar h3 { border-color: #6a9033}.page-category-energy .sidebar h3 { border-color: #e56027}.page-category-econ .sidebar h3 { border-color: #2c9199}.page-category-about .sidebar h3 { border-color: #447dae}.page-category-kidswhat .sidebar h3 { border-color: #004b85}.page-category-kidselec .sidebar h3 { border-color: #e43c31}.page-category-kidsenv .sidebar h3 { border-color: #7fbd42}.page-category-kidsriv .sidebar h3 { border-color: #29afca}.page-category-kidshis .sidebar h3 { border-color: #ffc428}.page-category-kidsres .sidebar h3 { border-color: #004b85}.sidebar h2,.sidebar h3,.sidebar h4,.sidebar h5,.sidebar h6 { margin-top: 2.5rem}.sidebar>div:first-child h2:first-child,.sidebar>div:first-child h3:first-child,.sidebar>div:first-child h4:first-child,.sidebar>div:first-child h5:first-child,.sidebar>div:first-child h6:first-child { margin-top: 0}.main-body+.sidebar { padding-left: 0}#mc_embed_signup { margin-bottom: 2.5rem}#mce-EMAIL { border: none; box-shadow: none; border-bottom: 1px solid black; border-radius: 0; padding: 0; width: 100%; height: auto}#mc-embedded-subscribe { border: none; background: none; color: black; font-weight: 500; padding: 0}.table { margin-top: 1.5rem; margin-bottom: 1.5rem}.table td,.table th { padding: 1rem; border: none}.table td:first-child,.table th:first-child { padding-left: 0.4rem}.table td:last-child,.table th:last-child { padding-right: 0.4rem}.table thead th { vertical-align: top; border: none; font-size: 1.25rem; height: 5.75rem}.table th { border-top: 1px solid}.page-category-env .table th { border-color: #6a9033}.page-category-energy .table th { border-color: #e56027}.page-category-econ .table th { border-color: #2c9199}.page-category-about .table th { border-color: #447dae}.page-category-kidswhat .table th { border-color: #004b85}.page-category-kidselec .table th { border-color: #e43c31}.page-category-kidsenv .table th { border-color: #7fbd42}.page-category-kidsriv .table th { border-color: #29afca}.page-category-kidshis .table th { border-color: #ffc428}.page-category-kidsres .table th { border-color: #004b85}.table tbody tr { height: 4.25rem}.table tr { border-top: 1px solid}.page-category-env .table tr { border-color: rgba(106,144,51,0.5)}.page-category-energy .table tr { border-color: rgba(229,96,39,0.5)}.page-category-econ .table tr { border-color: rgba(44,145,153,0.5)}.page-category-about .table tr { border-color: rgba(68,125,174,0.5)}.page-category-kidswhat .table tr { border-color: rgba(0,75,133,0.5)}.page-category-kidselec .table tr { border-color: rgba(228,60,49,0.5)}.page-category-kidsenv .table tr { border-color: rgba(127,189,66,0.5)}.page-category-kidsriv .table tr { border-color: rgba(41,175,202,0.5)}.page-category-kidshis .table tr { border-color: rgba(255,196,40,0.5)}.page-category-kidsres .table tr { border-color: rgba(0,75,133,0.5)}.table-striped tbody tr { border: none}.page-category-env .table-striped tbody tr:nth-of-type(2n+1) { background-color: rgba(106,144,51,0.27)}.page-category-energy .table-striped tbody tr:nth-of-type(2n+1) { background-color: rgba(229,96,39,0.27)}.page-category-econ .table-striped tbody tr:nth-of-type(2n+1) { background-color: rgba(44,145,153,0.27)}.page-category-about .table-striped tbody tr:nth-of-type(2n+1) { background-color: rgba(68,125,174,0.27)}.page-category-kidswhat .table-striped tbody tr:nth-of-type(2n+1) { background-color: rgba(0,75,133,0.27)}.page-category-kidselec .table-striped tbody tr:nth-of-type(2n+1) { background-color: rgba(228,60,49,0.27)}.page-category-kidsenv .table-striped tbody tr:nth-of-type(2n+1) { background-color: rgba(127,189,66,0.27)}.page-category-kidsriv .table-striped tbody tr:nth-of-type(2n+1) { background-color: rgba(41,175,202,0.27)}.page-category-kidshis .table-striped tbody tr:nth-of-type(2n+1) { background-color: rgba(255,196,40,0.27)}.page-category-kidsres .table-striped tbody tr:nth-of-type(2n+1) { background-color: rgba(0,75,133,0.27)}.accordion { margin-top: 2rem; margin-bottom: 2rem}.accordion h2 { font-size: 1.25rem; border-top: 0; padding-top: 0}.accordion .btn { position: relative; width: 100%; text-align: left; padding: 0; text-transform: none; font-size: inherit; font-weight: inherit; letter-spacing: inherit; min-height: 0}.accordion .btn.btn-link::after { content: ''; position: absolute; right: 0; top: 50%; -webkit-transform: translateY(-50%) rotate(-178deg); transform: translateY(-50%) rotate(-178deg); width: 10px; height: 10px; background-image: url("data:image/svg+xml,%3Csvg xmlns='http://www.w3.org/2000/svg' width='20px' height='20px' viewBox='0 0 7 6'%3E%3Cg id='Page-1' stroke='none' stroke-width='1' fill='none' fill-rule='evenodd' %3E%3Cg id='Mobile-Copy-2' transform='translate(-300.000000, -84.000000)' fill='%23414141' fill-rule='nonzero' %3E%3Cg id='Nav2_2' transform='translate(0.000000, 56.000000)' %3E%3Cpolygon id='Path' transform='translate(303.500000, 31.000000) scale(-1, 1) rotate(90.000000) translate(-303.500000, -31.000000) ' points='301 28 306 31 301 34 301 32.5295583 303.549642 31 301 29.4697622' %3E%3C/polygon%3E%3C/g%3E%3C/g%3E%3C/g%3E%3C/svg%3E"); background-size: 10px 10px; background-repeat: no-repeat; background-position: center}.accordion .btn.collapsed::after { content: ''; -webkit-transform: translateY(-50%) rotate(0deg); transform: translateY(-50%) rotate(0deg)}.accordion .card .card-body { padding-left: 1.25rem; padding-right: 1.25rem}.accordion .card .card-body p { margin-bottom: 1rem}.page-category-env .kids-title { color: #6a9033}.page-category-energy .kids-title { color: #e56027}.page-category-econ .kids-title { color: #2c9199}.page-category-about .kids-title { color: #447dae}.page-category-kidswhat .kids-title { color: #004b85}.page-category-kidselec .kids-title { color: #e43c31}.page-category-kidsenv .kids-title { color: #7fbd42}.page-category-kidsriv .kids-title { color: #29afca}.page-category-kidshis .kids-title { color: #ffc428}.page-category-kidsres .kids-title { color: #004b85}.full-bleed { width: 100vw; max-width: none; margin-left: -12px}@media (min-width: 576px) { .full-bleed { margin-left:calc(-50vw + 270px - 12px) }}@media (min-width: 768px) { .full-bleed { margin-left:calc(-50vw + 360px - 12px) }}@media (min-width: 992px) { .full-bleed { margin-left:calc(-50vw + 480px - 12px) }}@media (min-width: 1200px) { .full-bleed { margin-left:calc(-50vw + 570px - 12px) }}.full-bleed-left { max-width: none}@media (min-width: 768px) { .full-bleed-left { 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TVA Achieves Record Low Rate on a $1B 50-Year Power Bond Offering

Sep 22, 2015

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Release Summary

KNOXVILLE, Tenn. — The Tennessee Valley Authority announced today it has priced $1billion of new 50-year global power bonds carrying an interest rate of 4.25%, setting a new record.

The bonds priced at a yield of 4.383%, which now stands as the lowest on record for a 50-year bond by any corporate or government agency issuer. Investor demand for high quality, long-term fixed-income investments, along with the persistently low interest rate environment, contributed to the success of the offering.

“TVA had a chance to secure low cost financing for an extended period, with interest rates still hovering near all-time lows,” said TVA’s Chief Financial Officer John Thomas. “Meeting the demand for yield and duration that 50-year bonds provide to investors, while locking in savings for TVA, made this a mutually beneficial opportunity.”

More than $1 trillion of investment grade fixed-income securities have been issued so far this year, less than one percent of which had a final maturity of 50 years or longer. TVA’s 50-year bond offering drew demand from money managers, insurance companies and a variety of other investors.

Bank of America Merrill Lynch, BNP Paribas, Morgan Stanley and TD Securities were joint book-running managers for the transaction. Proceeds from the sale will be used by TVA to refinance existing debt and for other power system purposes.

“TVA’s model has stood the test of time, and the demand for our transaction demonstrates continued confidence in TVA’s mission,” said TVA Vice President and Treasurer Tammy Wilson. “This financing will help TVA provide low cost, reliable power, support economic development, and meet our stewardship obligations for decades to come, just as we have for the past 82 years.”

The new bonds will mature on Sept. 15, 2065, and are not subject to redemption prior to maturity. Interest will be paid semi-annually each March 15 and September 15. Application is expected to be made to list the bonds on the New York Stock Exchange. The bonds will be issued, maintained and transferred through the book-entry system of the Federal Reserve Banks. Transactions may be cleared and settled by international participants through Clearstream and Euroclear. The bonds can be identified by the CUSIP number 880591ES7.

The Tennessee Valley Authority is a corporate agency of the United States that provides electricity for business customers and local power companies serving more than 9 million people in parts of seven southeastern states. TVA receives no taxpayer funding, deriving virtually all of its revenues from sales of electricity. In addition to operating and investing its revenues in its electric system, TVA provides flood control, navigation and land management for the Tennessee River system and assists local power companies and state and local governments with economic development and job creation.

Investor Relations

Josh Carlon, Knoxville, 865-632-4133 or 888-882-4975

Clifton Lowry, Knoxville, 865-632-6638 or 888-882-4975

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