Company: TVC
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001376986-25-000056
Chunk: 412

Company: Tennessee Valley Authority
Filing Date: 2025-11-13
Form: 10-K
Item: Item 7
Chunk 412
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ured Debt of VIEs  In October 2024, JACTG issued secured notes totaling $720 million that bear interest at a rate of 5.078 percent.  Also in October 2024, JHLLC issued secured notes totaling $80 million that bear interest at a rate of 5.74 percent.  The JACTG notes and the JHLLC notes require amortizing semi-annual payments on each April 1, and October 1, and mature on October 1, 2054.  See Note 12 — Variable Interest Entities — Johnsonville  VIEs.  TVA used the proceeds from the transaction primarily to fund the construction of the Johnsonville Facility.

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In August 2013, SCCG issued secured notes totaling $360 million that bear interest at a rate of 3.846 percent.  The SCCG notes require amortizing semi-annual payments on each February 15 and August 15, and mature on August 15, 2033.  Also in August 2013, SCCG issued $40 million of membership interests subject to mandatory redemption.  The proceeds from the secured notes issuance and the issuance of the membership interests were paid to TVA in accordance with the terms of the Southaven head lease.  See Note 12 — Variable Interest Entities — Southaven VIE.  TVA used the proceeds from the transaction primarily to fund the acquisition of the Southaven CCF from SSSL.In January 2012, JSCCG issued secured notes totaling $900 million in aggregate principal amount that bear interest at a rate of 4.626 percent.  Also in January 2012, Holdco issued secured notes totaling $100 million that bear interest at a rate of 7.1 percent.  The JSCCG notes and the Holdco notes require amortizing semi-annual payments on each January 15 and July 15, and mature on January 15, 2042.  The Holdco notes require a $10 million balloon payment upon maturity.  See Note 12 — Variable Interest Entities — John Sevier VIEs.  TVA used the proceeds from the transaction to meet its requirements under the TVA Act.  Secured debt of VIEs, including current maturities, outstanding at September 30, 2025 and 2024 totaled $1.7 billion and $934 million, respectively.Short-Term Debt    The following table provides information regarding TVA's short-term