TVA to Reset 1998 Series D (TVC) PARRS Power Bonds
01 Mai 2008 - 7:02PM
PR Newswire (US)
KNOXVILLE, Tenn., May 1 /PRNewswire/ -- The interest rate on the
Tennessee Valley Authority 1998 Series D Putable Automatic Rate
Reset Securities, traded on the New York Stock Exchange under the
symbol "TVC," will be reset from 5.49 percent to 5.46 percent on
June 1, 2008. 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 Thursday, May 22. Requests for repayment cannot be
accepted directly by TVA. On June 1, TVA will pay $25 for each bond
properly returned, plus a quarterly interest payment of 34.3125
cents per bond, reflecting the current annual interest rate of 5.49
percent. The 1998 Series D bonds mature on June 1, 2028. They can
be identified by the CUSIP number 880591300. The 1998 Series D
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. CONTACT: John Moulton,
Knoxville, (865) 632-8048 TVA News Bureau, Knoxville, (865)
632-6000 Investor Contact: (888) 882-4975
http://www.tva.com/finance DATASOURCE: Tennessee Valley Authority
CONTACT: John Moulton, Knoxville, +1-865-632-8048; TVA News Bureau,
Knoxville, +1-865-632-6000; or Investor Contact: +1-888-882-4975
Web Site: http://www.tva.com/
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