TVA holders may put 1998 series D Parrs bonds; coupon resets to 3.83%

By Susanna Moon

Chicago, May 2 - Tennessee Valley Authority said holders may put their 1998 series D putable automatic rate reset securities (Parrs) bonds by May 22.

The interest rate on Parrs will reset to 3.83% from 4.06%, effective June 1.

As a result, the bonds are putable at par of $25 each plus the current quarterly interest payment of 4.06% on June 1.

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

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