Company: TVC
Filing Date: 2025-02-05
Form Type: 10-Q
Source: 0001376986-25-000011
Chunk: 171

Company: Tennessee Valley Authority
Filing Date: 2025-02-05
Form: 10-Q
Item: Part II, Item 2
Chunk 171
---
,357 $1,167 Current maturities of power bonds issued at par2,372 1,022 Current maturities of long-term debt of VIEs issued at par46 37 Total current debt outstanding, net3,775 2,226 Long-term debt  Long-term power bonds(1)16,610 17,995 Long-term debt of VIEs, net1,675 897 Unamortized discounts, premiums, issue costs, and other(125)(128)Total long-term debt, net18,160 18,764 Total debt outstanding$21,935 $20,990 Note(1)  Includes total net exchange gain from currency transactions of $96 million and $62 million at December 31, 2024, and September 30, 2024, respectively.Debt Securities ActivityThe table below summarizes the long-term debt securities activity for the period from October 1, 2024, to December 31, 2024:Debt Securities Activity DateAmount(in millions)IssuesDebt of variable interest entitiesOctober 2024$800 Total$800 Redemptions/Maturities(1) 2009 Series BDecember 2024$1 Total redemptions/maturities of debt$1 Note(1)  All redemptions were at 100 percent of par.Credit Facility AgreementsTVA has funding available under four long-term revolving credit facilities totaling $2.7 billion.  See the table below for additional information on the four long-term 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 of TVA's senior unsecured, long-term, non-credit-enhanced debt.  At December 31, 2024, and September 30, 2024, there were $500 million and $566 million, respectively, of letters of credit outstanding under these facilities, and there were no borrowings outstanding.  TVA's letters of credit are primarily posted as collateral under TVA's interest rate swaps.  See