By Aleesia Forni
Virginia Beach, Va., Aug. 9 - The Tennessee Valley Authority priced $360 million of 3.846% senior notes (Aaa/AA/AA-) due 2033 on Friday, according to a company news release.
The deal was part of a lease-purchase transaction that provides the company with $400 million of financing to acquire the Southaven Combined Cycle Plant in Desoto County, Miss.
BofA Merrill Lynch, Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC were the lead underwriters.
No other details were available at press time.
The government-owned electric utility is based in Knoxville, Tenn.
| Issuer: | Tennessee Valley Authority
|
| Issue: | Senior notes
|
| Amount: | $360 million
|
| Maturity: | Aug. 15, 2033
|
| Bookrunners: | BofA Merrill Lynch, Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC
|
| Coupon: | 3.846%
|
| Pricing date: | Aug. 9
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AA
|
| Fitch: AA-
|
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