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TVA ANNOUNCES $500 MILLI0N BOND SALE

 KNOXVILLE, Tenn., Feb. 25 /PRNewswire/ -- The Tennessee Valley Authority, it its first bond offering of 1993, sold $500 million of three-year bonds today for refinancing purposes.
 The TVA bonds were sold to a syndicate headed by Lehman Brothers, with The First Boston Corporation and Morgan Stanley & Co. serving as co-managers. The bonds have a coupon of 4 3/8 percent, with an anticipated public reoffering price of 99.487, and a yield to the public of 4.56 percent. Proceeds to TVA are 99.337. The bonds have a maturity date of March 1, 1996, and are callable at par on March 1, 1994.
 "The decline in interest rates in recent weeks has provided another opportunity to reduce TVA's interest expense," said William F. Malec, TVA's executive vice president and chief financial officer.
 Since 1989, TVA has sold $16 billion in bonds and achieved total interest expense savings of more that $200 million per year.
 -0- 2/25/93
 /CONTACT: William F. Malec, Knoxville, 615-632-3987, or Arlethia Perry-Johnson, Knoxville, 615-632-2006, both of Tennessee Valley Authority/


CO: Tennessee Valley Authority ST: Tennessee IN: UTI SU:

DF -- CH006 -- 0311 02/25/93 10:38 EST
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Publication:PR Newswire
Date:Feb 25, 1993
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