TVA issues $1B of 3.875% Global Power Bonds due 2028, net proceeds $988.6M

Tennessee Valley Authority

Issued $1B of 3.875% Global Power Bonds 2023 Series A, maturing March 15, 2028.
Net proceeds after discount and fees: $988.62M; settlement March 30, 2023.
Bonds not redeemable prior to maturity; interest semi-annual on March 15 and Sept 15.
Application made to list on NYSE; bonds are obligations of TVA, not guaranteed by U.S.

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