secwatch.observer — SEC 8-K summary
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Issuer:     Tennessee Valley Authority (TVE)
CIK:        0001376986
Form:       8-K
Filed at:   2024-10-04T23:59:59+00:00
Accession:  0001376986-24-000026
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TVA enters $800M lease-purchase financing for Johnsonville gas turbine facility, receives $775M proceeds
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- Closed $800M financing ($80M equity + $720M secured notes) for Johnsonville Aeroderivative Combustion Turbine Facility.
- Received $775,087,079 on Oct 2, 2024; proceeds for power program and transaction expenses.
- 30-year lease-purchase agreement; TVA makes semi-annual rent payments starting April 1, 2025 through Oct 1, 2054.
- Facility consists of ten gas turbine generators; commercial operations expected by April 2025.
- Rent schedule shows debt portion ~$22.6M per payment until 2045, then ~$27.3M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1376986/000137698624000026/0001376986-24-000026-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1376986/000137698624000026/tve-20241002.htm
  HTML page:      https://secwatch.observer/filing/0001376986-24-000026

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