Tennessee Valley Authority filed SEC Form 8-K: Creation of a Direct Financial Obligation, Other Events, Financial Statements and Exhibits
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Electric Utilities: Central
Utilities
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13, 15(d), or 37 of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 8, 2024
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Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The Tennessee Valley Authority ("TVA") entered into an agreement on August 8, 2024, to issue $1 billion of TVA's 4.375% Global Power Bonds 2024 Series A Due August 1, 2034 (the "Bonds"). The settlement date for the transaction is August 13, 2024. The Bonds bear a coupon rate of 4.375% and pay interest semi-annually on each February 1 and August 1, beginning February 1, 2025. The Bonds mature on August 1, 2034, and are not subject to redemption prior to maturity. After reflecting the transaction's discount and after deducting the fees of the managers, net proceeds to TVA are $987,840,000, exclusive of out-of-pocket expenses incurred in connection with offering the Bonds.
Item 8.01 Other Events.
On August 13, 2024, TVA released a final offering circular in connection with the planned issuance of the Bonds. A copy of the final offering circular is filed as Exhibit 99.1.
TVA undertakes no obligation to update any information contained in the final offering circular to reflect developments that occur after its release or for any other reason.
Item 9.01 Financial Statements and Exhibits.
| EXHIBIT NO. | DESCRIPTION OF EXHIBIT | ||||
| 99.1 | Final Offering Circular Released August 13, 2024, in Connection with the Issuance of $1,000,000,000 of TVA Power Bonds. | ||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Tennessee Valley Authority | |||||
| (Registrant) | |||||
| Date: August 13, 2024 | /s/ John M. Thomas, III | ||||
| John M. Thomas, III | |||||
| Executive Vice President and | |||||
| Chief Financial and Strategy Officer | |||||
EXHIBIT INDEX
This exhibit is filed pursuant to Item 8.01 hereof.
| EXHIBIT NO. | DESCRIPTION OF EXHIBIT | ||||