Published on 9/22/2015 in the Prospect News Investment Grade Daily.
New Issue: Tennessee Valley Authority sells $1 billion 4.25% power bonds due 2065
By Aleesia Forni
Virginia Beach, Sept. 22 – Tennessee Valley Authority priced $1 billion of 4.25% global power bonds (Aaa/AA+/AAA) due Sept. 15, 2065 on Monday, according to an informed source.
BofA Merrill Lynch, BNP Paribas Securities Corp., Morgan Stanley & Co. LLC and TD Securities were the bookrunners.
The corporate agency provides electricity for business customers and local power companies in parts of seven southeastern states and is based in Knoxville, Tenn.
| Issuer: | Tennessee Valley Authority
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| Amount: | $1 billion
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| Description: | Global power bonds
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| Maturity: | Sept. 15, 2065
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| Bookrunners: | BofA Merrill Lynch, BNP Paribas Securities Corp., Morgan Stanley & Co. LLC, TD Securities
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| Coupon: | 4.25%
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| Trade date: | Sept. 21
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| Ratings: | Moody’s: Aaa
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| Standard & Poor’s: AA+
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| Fitch: AAA
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