By Andrea Heisinger
New York, Aug. 6 - Tennessee Valley Authority sold $1 billion of 1.875% 10-year notes on Monday to yield 43 basis points over Treasuries, a source away from the trade said.
The notes (Aaa/AA+/AAA) were sold at 99.122 to yield 1.972%. There is no call option.
Bookrunners were Bank of America Merrill Lynch, Morgan Stanley & Co. LLC and RBS Securities Inc.
The government-owned electric utility is based in Knoxville, Tenn.
| Issuer: | Tennessee Valley Authority
|
| Issue: | Notes
|
| Amount: | $1 billion
|
| Maturity: | Aug. 15, 2022
|
| Bookrunners: | Bank of America Merrill Lynch, Morgan Stanley & Co. LLC, RBS Securities Inc.
|
| Coupon: | 1.875%
|
| Price: | 99.122
|
| Yield: | 1.972%
|
| Spread: | Treasuries plus 43 bps
|
| Call: | Non-callable
|
| Trade date: | Aug. 6
|
| Settlement date: | Aug. 9
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AA+
|
| Fitch: AAA
|
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