By Andrea Heisinger and Kenneth Lim
New York, Sept. 16 - Tennessee Valley Authority sold $1.5 billion 30-year Power notes (Aaa/AAA) Wednesday to yield Treasuries plus 105 basis points, an informed high-grade source said.
The sale was done jointly off the agencies and high-grade syndicate desks, she said.
Bookrunners were Bank of America Merrill Lynch and Barclays Capital Inc.
The notes bear a coupon of 5.25% and were sold at 98.882, representing a yield of 5.325%.
The federally owned electricity and economic development provider is based in Knoxville, Tenn.
| Issuer: | Tennessee Valley Authority
|
| Issue: | Notes
|
| Amount: | $1.5 billion
|
| Maturity: | 2039
|
| Bookrunners: | Bank of America Merrill Lynch, Barclays Capital Inc.
|
| Coupon: | 5.25%
|
| Price: | 98.882
|
| Yield: | 5.325%
|
| Spread: | Treasuries plus 105 bps
|
| Trade date: | Sept. 16
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
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