The Tennessee Valley Authority, or TVA, plans to redeem nine issues of bonds on Nov. 15, totaling approximately $217 million, from its electronotes series.
The redemption covers $33.5 million of 3.250% bonds due Feb. 15, 2032; $27.1 million of 3.625% bonds due March 15, 2042; $24 million of 3.375% bonds due April 15, 2032; $34.9 million of 3.550% bonds due May 15, 2042; $48.3 million of 3.625% bonds due Feb. 15, 2043; $9 million of 2.375% bonds due Feb. 15, 2025; $12.2 million of 2.375% bonds due Feb. 15, 2025; $15.8 million of 3.000% bonds due March 15, 2029; and $11.8 million of 3.150% bonds due April 15, 2033.
"The recent drop in interest rates has created an opportunity for TVA to save $4 million annually by redeeming these bonds," said TVA Vice President and Chief Risk Officer Tammy Wilson.