TENNESSEE VALLEY AUTHORITY (NYSE:TVE) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
On December 11, 2018, TVA executed an amendment to its $150,000,000 December Maturity Community Bank Credit Agreement dated as of December 12, 2016, with SunTrust Bank, as Administrative Agent and a Lender, Branch Banking and Trust Company, as Letter of Credit Issuer and a Lender, First National Bank, First Tennessee Bank National Association, HomeTrust Bank, Pinnacle Bank, Regions Bank, and United Community Bank(the “Credit Agreement”). The amendment, among other things, (1) extends the maturity date of the Credit Agreement to December 11, 2021, (2) changes the name of the Credit Agreement to the December Maturity Community Bank Credit Agreement, (3) updates certain definitions, (4) updates certain ERISA provisions, (5) adds a provision regarding the bail-in of European Economic Area financial institutions, and (6) updates the schedule of commitments and applicable percentages. The other material terms and conditions of the Credit Agreement were not changed.
A copy of the amendment is filed as Exhibit 10.1.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
See Item 1.01.
Item 9.01 Financial Statements and Exhibits.
DESCRIPTION OF EXHIBIT
Amendment Dated as of December 11, 2018, to December Maturity Community Bank Credit Agreement Dated as of December 12, 2016.
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Tennessee Valley Authority
Date: December 13, 2018
/s/ John M. Thomas, III
John M. Thomas, III
Executive Vice President and
Chief Financial Officer
This exhibit is filed
Tennessee Valley Authority Exhibit
EX-10.1 2 exhibit1018-kamendmentcomm.htm EXHIBIT 10.1 Exhibit EXHIBIT 10.1This agreement has been filed to provide investors with information regarding its terms. It is not intended to provide any other factual information about the Tennessee Valley Authority. The representations and warranties of the parties in this agreement were made to,…
To view the full exhibit click
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.