TVA To Reset 1999 Series A (TVE) PARRS Power Bonds
04 4월 2008 - 1:26AM
PR Newswire (US)
KNOXVILLE, Tenn., April 3, 2008 /PRNewswire-FirstCall/ -- The
interest rate on the Tennessee Valley Authority 1999 Series A
Putable Automatic Rate Reset Securities bonds, traded on the New
York Stock Exchange under the symbol "TVE," will be reset from
5.618 percent to 5.174 percent on May 1, 2008. In conjunction with
the pending reset, investors have the option of retaining their
bonds with the new rate or requesting repayment at par value ($25
per bond). Investors who wish to return their bonds must contact
the financial institution that holds the bonds to request repayment
and authorize arrangements to be made on their behalf. Repayment
arrangements must be completed with The Depository Trust Company no
later than Monday, April 21. Requests for repayment cannot be
accepted directly by TVA. On May 1, 2008, TVA will pay $25 for each
bond properly returned, plus a quarterly interest payment of
35.1125 cents per bond, reflecting the current annual interest rate
of 5.618 percent. The 1999 Series A bonds mature on May 1, 2029.
They can be identified by the CUSIP number 880591409. The 1999
Series A Offering Circular and additional information about the
rate reset and repayment option is available on TVA's web site, at
http://www.tva.com/finance. Copies of the Offering Circular may be
requested by calling 1-888-882-4975 (toll free). TVA is the
nation's largest public power provider and is completely
self-financing. TVA provides power to large industries and 159
power distributors that serve approximately 8.8 million consumers
in seven southeastern states. TVA also manages the Tennessee River
and its tributaries to provide multiple benefits, including flood
damage reduction, navigation, water quality and recreation.
Investor Contact: (888) 882-4975 (toll-free)
http://www.tva.com/finance DATASOURCE: Tennessee Valley Authority
CONTACT: John Moulton of Tennessee Valley Authority,
+1-865-632-8048, or Tennessee Valley Authority News Bureau,
+1-865-632-6000 Web Site: http://www.tva.com/
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