Oct 16, 2019   SOURCE: PR NewsWire

TVA To Redeem Debt Securities

KNOXVILLE, Tenn., Oct. 16, 2019 /PRNewswire/ -- The Tennessee Valley Authority has announced it will redeem nine issues of bonds from its electronotes® series on November 15, 2019, totaling approximately $217 million.

TVA will redeem each issue of TVA electronotes listed below in its entirety:

                    Year
                   Issued 
       
            Cusip Coupon Rate   Maturity Date     Principal Outstanding

                                                                         
     
         ($ millions)

    ---

        
         2012          
       88059TFH9         3.250% 
         2/15/2032                     $33.5

          ---

        
         2012          
       88059TFJ5         3.625% 
         3/15/2042                     $27.1

          ---

        
         2012          
       88059TFK2         3.375% 
         4/15/2032                     $24.0

          ---

        
         2012          
       88059TFL0         3.550% 
         5/15/2042                     $34.9

          ---

        
         2013          
       88059TFM8         3.625% 
         2/15/2043                     $48.3

          ---

        
         2013          
       88059TFN6         2.375% 
         2/15/2025                      $9.0

          ---

        
         2013          
       88059TFP1         2.375% 
         2/15/2025                     $12.2

          ---

        
         2013          
       88059TFQ9         3.000% 
         3/15/2029                     $15.8

          ---

        
         2013          
       88059TFR7         3.150% 
         4/15/2033                     $11.8

          ---

The electronotes will be redeemed at 100 percent of par value. The redemption price and any accrued interest on each electronotes issue listed above will be paid to eligible holders through the Depository Trust Company.

"The recent drop in interest rates has created an opportunity for TVA to save $4 million annually by redeeming these bonds," said Tammy Wilson, TVA Vice President, Treasurer & Chief Risk Officer. "Those savings will benefit our customers and support TVA's ongoing mission of providing affordable power."

The Tennessee Valley Authority is a corporate agency of the United States that provides electricity for business customers and local power distributors serving nearly 10 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. 

     Media Contact: 
     Jim Hopson, Knoxville, 865-632-8860


                    
     TVA Public Relations, Knoxville, 865-632-6000


                    
     
                www.tva.com/news


                    
     Follow TVA news on Facebook and Twitter




     Investor
      Relations:    
     Tammy Wilson, Knoxville, 865-632-3366 or 888-882-4975


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


                    
     
                http://www.tva.com/investors

View original content to download multimedia:http://www.prnewswire.com/news-releases/tva-to-redeem-debt-securities-300939677.html

SOURCE Tennessee Valley Authority