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Article: Tennessee Valley Authority announces proposed bond issue.
- Article from:
- PR Newswire
- Article date:
- October 12, 1989
CopyrightCOPYRIGHT 1989 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TENNESSEE VALLEY AUTHORITY ANNOUNCES PROPOSED BOND ISSUE
NEW YORK, Oct. 12 /PRNewswire/ -- The Tennessee Valley Authority announced today the proposed issuance of approximately $3 billion in securities in the agency public debt market as part of a plan to refinance approximately $6.7 billion of debt held by the Federal Financing Bank (FFB). The First Boston Corporation is acting as lead manager on the offering.
In announcing the $3 billion transaction, TVA outlined its interest in selling securities with the following maturities and call provisions:
-- $1.5 billion of a 30-year maturity with 5 years of call protection,
-- a ...