TVA To Reset 1998 Series D PARRS (TVC) Power Bonds
May 5, 2005
The coupon rate on the Tennessee Valley Authority 1998 Series D Putable Automatic Rate Reset Securities (PARRS), traded on the New York Stock Exchange under the symbol TVC, will be reset from 5.952 percent to 5.49 percent on June 1, 2005.
The new coupon rate will be reflected in the quarterly interest payment made on Sept. 1, 2005. The 1998 Series D PARRS can be identified by the CUSIP number 880591300. The bonds mature on June 1, 2028.
In conjunction with the pending reset, bondholders have the option of retaining the bonds at the new rate or requesting repayment of the bonds at par value ($25 per bond). Bondholders who wish to return their bonds must contact the financial institution through which they hold the bonds to request repayment and authorize the institution to make arrangements with the Depository Trust Company to return their bonds to TVA. Repayment arrangements must be completed no later than close of business on Friday, May 20, 2005.
An offering circular and legal notice describing the 1998 Series D PARRS is available by clicking here or by calling TVA Investor Relations at 1-888-882-4975.
TVA is a wholly owned federal corporation and the nation’s largest public power provider. It is completely self-financed. 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
TVA Investor Relations, Knoxville, (888) 882-4975
