Tennessee Valley Authority (TVE): debt financing — TVA amends two credit facilities: extends one maturity, switches to SOFR

Tennessee Valley Authority

Extended December Maturity Community Bank Credit Agreement maturity to March 29, 2026.
Replaced LIBOR benchmark with SOFR in both December and September Maturity credit agreements.
Lenders include Truist Bank, Regions, United Community, Pinnacle, First Horizon, SmartBank, HomeTrust, and First National Bank.
Amendments effective March 29, 2023; filed as 8-K on April 3, 2023.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Tennessee Valley Authority amended credit facility with Truist Bank, as Administrative Agent, Letter of Credit Issuer, and a Lender, United Community Bank, Regions Bank, Pinnacle Bank, First Horizon Bank, SmartBank, HomeTrust Bank, and First National Bank at Secured Overnight Financing Rate (SOFR) benchmark maturing March 29, 2026.

Instrument: credit facility
Counterparty: Truist Bank, as Administrative Agent, Letter of Credit Issuer, and a Lender, United Community Bank, Regions Bank, Pinnacle Bank, First Horizon Bank, SmartBank, HomeTrust Bank, and First National Bank
Rate: Secured Overnight Financing Rate (SOFR) benchmark
Maturity: March 29, 2026
Event: amendment

Exact text from the filing

On March 29, 2023, the Tennessee Valley Authority (“TVA”) executed an amendment to the December Maturity Community Bank Credit Agreement Dated as of December 12, 2016, and Amended as of December 11, 2018 and February 9, 2021, Among TVA, as the Borrower, Truist Bank, as Administrative Agent, Letter of Credit Issuer, and a Lender, United Community Bank, Regions Bank, Pinnacle Bank, First Horizon Bank, SmartBank, HomeTrust Bank, and First National Bank.

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Tennessee Valley Authority amended credit facility with Royal Bank of Canada, as Administrative Agent, Letter of Credit Issuer, and a Lender, Truist Bank, Barclays Bank PLC, Wells Fargo Bank, N.A., Regions Bank, and BNP Paribas at Secured Overnight Financing Rate (SOFR) benchmark.

Instrument: credit facility
Counterparty: Royal Bank of Canada, as Administrative Agent, Letter of Credit Issuer, and a Lender, Truist Bank, Barclays Bank PLC, Wells Fargo Bank, N.A., Regions Bank, and BNP Paribas
Rate: Secured Overnight Financing Rate (SOFR) benchmark
Event: amendment

Exact text from the filing

On March 29, 2023, TVA also executed an amendment to its Second Amended and Restated September Maturity Credit Agreement Dated as of September 21, 2021, Among TVA, as the Borrower, Royal Bank of Canada, as Administrative Agent, Letter of Credit Issuer, and a Lender, Truist Bank, Barclays Bank PLC, Wells Fargo Bank, N.A., Regions Bank, and BNP Paribas.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Tennessee Valley Authority amended December Maturity Community Bank Credit Agreement with Truist Bank, United Community Bank, Regions Bank, Pinnacle Bank, First Horizon Bank, SmartBank, HomeTrust Bank, and First National Bank (effective 2023-03-29).

Action: amendment
Agreement: credit facility
Counterparty: Truist Bank, United Community Bank, Regions Bank, Pinnacle Bank, First Horizon Bank, SmartBank, HomeTrust Bank, and First National Bank
Effective: 2023-03-29

Exact text from the filing

On March 29, 2023, the Tennessee Valley Authority (“TVA”) executed an amendment to the December Maturity Community Bank Credit Agreement Dated as of December 12, 2016, and Amended as of December 11, 2018 and February 9, 2021, Among TVA, as the Borrower, Truist Bank, as Administrative Agent, Letter of Credit Issuer, and a Lender, United Community Bank, Regions Bank, Pinnacle Bank, First Horizon Bank, SmartBank, HomeTrust Bank, and First National Bank.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Tennessee Valley Authority amended Second Amended and Restated September Maturity Credit Agreement with Royal Bank of Canada, Truist Bank, Barclays Bank PLC, Wells Fargo Bank, N.A., Regions Bank, and BNP Paribas (effective 2023-03-29).

Action: amendment
Agreement: credit facility
Counterparty: Royal Bank of Canada, Truist Bank, Barclays Bank PLC, Wells Fargo Bank, N.A., Regions Bank, and BNP Paribas
Effective: 2023-03-29

Exact text from the filing

On March 29, 2023, TVA also executed an amendment to its Second Amended and Restated September Maturity Credit Agreement Dated as of September 21, 2021, Among TVA, as the Borrower, Royal Bank of Canada, as Administrative Agent, Letter of Credit Issuer, and a Lender, Truist Bank, Barclays Bank PLC, Wells Fargo Bank, N.A., Regions Bank, and BNP Paribas.

View on SEC.gov

101 debt financings filed in the last 30 days. Browse all debt financings →

Tennessee Valley Authority filing history →

Source: SEC EDGAR

accession 0001376986-23-000013

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.