TVA issues $1B of 4.375% Global Power Bonds due August 2034

Tennessee Valley Authority

Principal $1B, coupon 4.375%, maturity August 1, 2034; not redeemable prior to maturity.
Net proceeds ~$987.8M after discount and manager fees; settlement August 13, 2024.
Interest payable semi-annually on Feb 1 and Aug 1, beginning Feb 1, 2025.
Offered via final offering circular dated Aug 8, 2024; joint book-runners: BofA, Morgan Stanley, RBC, TD.
Not obligations of or guaranteed by the U.S. government; payable solely from TVA's Net Power Proceeds.

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