KNOXVILLE, Tenn., June 15, 2020 /PRNewswire/ -- The Tennessee Valley Authority will redeem all of its 6.235% 1995 Series B Power Bonds due July 15, 2045, on July 15, 2020.
The bond is identified by the CUSIP number 880591CF7. The bonds will be redeemed at 100% of par value. The redemption price and any accrued interest will be paid to eligible holders through the book-entry system of the Federal Reserve Banks.
"We are in an unprecedented low interest rate environment creating an opportunity for TVA to save $5 million annually by redeeming these bonds," said Tammy Wilson, TVA treasurer & chief risk officer. "Those savings will benefit our customers and support TVA's ongoing mission of providing affordable power."
The Tennessee Valley Authority is a corporate agency of the United States that provides electricity for business customers and local power distributors serving 10 million people in parts of seven southeastern states. TVA receives no taxpayer funding, deriving virtually all of its revenues from sales of electricity. In addition to operating and investing its revenues in its electric system, TVA provides flood control, navigation and land management for the Tennessee River system and assists local power companies and state and local governments with economic development and job creation.
Tammy Wilson, Knoxville, 865-632-3366 or 888-882-4975
Josh Carlon, Knoxville, 865-632-4133 or 888-882-4975
Jim Hopson, Knoxville, 865- 632-8860
TVA Media Relations, Knoxville, 865-632-6000
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SOURCE Tennessee Valley Authority