TVA launches up to $3B electronotes program with maturities of 1-30 years

Tennessee Valley Authority

Maximum aggregate principal amount outstanding of $3,000,000,000; authorized denominations of $1,000.
Notes mature from one year to thirty years, fixed rate, monthly/quarterly/semiannual/annual interest, book-entry via DTC.
Agents: InspereX, Citigroup, FHN Financial Capital Markets, Morgan Stanley, Wells Fargo Advisors.
Net proceeds to TVA estimated at $2.925B to $2.994B after agent discounts of 0.20%–2.50% and $250,000 expenses.
Notes are not U.S. government obligations; TVA is a federal agency not registering under the Securities Act.

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