TENNESSEE VALLEY AUTHORITY (NYSE:TVE) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
$500,000,000 credit agreement dated as of August 7, 2015, with
Bank of America, N.A., as Administrative Agent, Letter of Credit
Issuer, and a Lender, and the Other Lenders Party Thereto (Credit
Agreement). The amendment, among other things, extends the
maturity date by one year to February 1, 2021, and retitles the
Credit Agreement as the February Maturity Credit Agreement. The
other material terms and conditions of the Credit Agreement were
not changed. A copy of the amendment is filed as Exhibit 10.1.
Obligation under an Off-Balance Sheet Arrangement of a
Registrant.
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EXHIBIT NO.
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DESCRIPTION OF EXHIBIT
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10.1
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First Amendment Dated as of February 28, 2017, to the
$500,000,000 February 2020 Maturity Credit Agreement Dated as of August 7, 2015, among TVA, Bank of America, N.A., as Administrative Agent, Letter of Credit Issuer, and a Lender, and the Other Lenders Party Thereto |
registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
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Tennessee Valley Authority
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(Registrant)
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Date: March 3, 2017
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/s/ John M. Thomas, III
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John M. Thomas, III
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Executive Vice President and
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Chief Financial Officer
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About TENNESSEE VALLEY AUTHORITY (NYSE:TVE)
Tennessee Valley Authority (TVA) operates a public power system and supplies power in Tennessee, northern Alabama, northeastern Mississippi, and southwestern Kentucky and in portions of northern Georgia, western North Carolina, and southwestern Virginia. The Company manages the Tennessee River, its tributaries and certain shorelines to provide navigation, flood damage reduction and electricity, among others. The Company is a wholesaler of power. The Company sells power to local power company customers of TVA (LPCs), which then resell power to their customers at retail rates. TVA’s LPCs consist of municipalities and other local government entities (municipalities), and customer-owned entities (cooperatives). TVA has approximately three nuclear sites consisting of over six units in operation and approximately one unit under construction. The Company’s transmission system has approximately 70 interconnections with over 10 neighboring electric systems. TENNESSEE VALLEY AUTHORITY (NYSE:TVE) Recent Trading Information
TENNESSEE VALLEY AUTHORITY (NYSE:TVE) closed its last trading session at with 6,046 shares trading hands.
