Printer Friendly

TVA CHANGES DATE FOR COMPETITIVE BID BOND SALE

 TVA CHANGES DATE FOR COMPETITIVE BID BOND SALE
 KNOXVILLE, Tenn., Aug. 14 /PRNewswire/ -- TVA has changed the date


it plans to accept bids to buy $700 million in 30-year bonds to Monday, August 17.
 The pricing date was initially set for Tuesday, August 18, but was changed because of other issues in the market.
 TVA is selling the bonds to take advantage of declining interest rates. The sale of the bonds is expected to save TVA about $7.5 million annually in interest expenses.
 TVA Executive Vice President and Chief Financial Officer William F. Malec said proceeds from the sale will be used to pay off debt held by the Federal Financing Bank.
 TVA reserves the right to withdraw the invitation for bids. The 30-year bonds will have a five-year call provision.
 -0- 8/14/92
 /CONTACT: William F. Malec, Knoxville, 615-632-3987 or B.J. Wright, Knoxville, 615-632-8020, both of Tennessee Valley Authority/ CO: Tennessee Valley Authority (TVA) ST: Tennessee IN: UTI SU:


JZ -- CH006 -- 0061 08/14/92 13:25 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 14, 1992
Words:172
Previous Article:INTERNATIONAL MOBILE MACHINES REPORTS SECOND QUARTER UNAUDITED RESULTS
Next Article:REDLAW INDUSTRIES INC. - FINANCIAL RESULTS FOR THE FIRST NINE MONTHS OF FISCAL 1992
Topics:


Related Articles
TVA ANNOUNCES COMPETITIVE BID BOND SALE
TVA ANNUAL INTEREST SAVINGS REACHES $200 MILLION
TVA ANNOUNCES $1 BILLION BOND SALE
TVA PRICES $1 BILLION IN BONDS
TVA ANN0UNCES TENDER OFFER FOR 4 3/4 PERCENT BONDS
BOND REFINANCING SAVES TVA $31 MILLION IN INTEREST EXPENSE
TVA PRICES $500 MILLION IN BONDS
TVA SELLS $500 MILLION IN BONDS
TVA REDUCES DEBT AND ANNUAL INTEREST EXPENSE FOR FOURTH TIME THIS YEAR
TVA Prices $600 Million of Power Bonds.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters