Tennessee Valley holders may put bonds; rate resets lower to 4.06%

By Susanna Moon

Chicago, May 3 - Tennessee Valley Authority said the interest rate on its 1998 series D putable automatic rate reset securities will reset to 4.06% on June 1, down from 4.728%.

In conjunction with the pending reset, investors may put their bonds at par of $25 plus a quarterly interest payment of $0.29550 cents per bond on June 1, according to a notice by the authority.

Investors who exercise the put option must complete repayment arrangements with the Depository Trust Co. by May 22.

Tennessee Valley Authority is a Knoxville, Tenn.-based electricity provider.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.