Company: TVC
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001376986-25-000044
Chunk: 339

Company: Tennessee Valley Authority
Filing Date: 2025-07-29
Form: 10-Q
Item: Part II, Item 3
Chunk 339
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 power bonds(1)19,389 17,995 Long-term debt of VIEs, net1,651 897 Unamortized discounts, premiums, issue costs, and other(160)(128)Total long-term debt, net20,880 18,764 Total debt outstanding$22,617 $20,990 Note(1)  Includes total net exchange gain from currency transactions of $48 million and $62 million at June 30, 2025, and September 30, 2024, respectively.

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Table of Contents                               Draft 4.0                    07/24/2025 5:00 PM

Debt Securities ActivityThe table below summarizes the long-term debt securities activity for the period from October 1, 2024, to June 30, 2025:Debt Securities Activity DateAmount(in millions)IssuesDebt of variable interest entitiesOctober 2024$800 2025 Series A(1)February 20251,250 2025 Series B(2)May 20251,500 Discount on debt issues(28)Total long-term debt issues$3,522 Redemptions/Maturities(3) 2009 Series BDecember 2024$1 2020 Series AMay 20251,000 2009 Series BJune 202521 Total redemptions/maturities of power bonds1,022 Debt of variable interest entities23 Total redemptions/maturities of debt$1,045 Notes(1)  The 2025 Series A Bonds were issued at 98.517 percent of par.(2)  The 2025 Series B Bonds were issued at 99.360 percent of par.(3)  All redemptions were at 100 percent of par.Credit Facility AgreementsTVA has funding available under four revolving credit facilities totaling $2.7 billion.  See the table below for additional information on the four revolving credit facilities.  The interest rate on any borrowing under these facilities varies based on market factors and the rating of TVA's senior unsecured, long-term, non-credit-enhanced debt.  TVA is required to pay an unused facility fee on the portion of the total $2.7 billion that TVA has not borrowed or committed under letters of credit.  This fee, along with letter of credit fees, may fluctuate depending on the rating