Company: TVC
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001376986-25-000056
Chunk: 414

Company: Tennessee Valley Authority
Filing Date: 2025-11-13
Form: 10-K
Item: Item 7
Chunk 414
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; therefore, $208 million of the Bonds were outstanding at September 30, 2025.Due to the contingent nature of the put option on the PARRS, TVA determines whether the PARRS should be classified as long-term debt or current maturities of long-term debt by calculating the expected reset rate for the Bonds on the calculation dates, described above.  If the determination date for reset is before the balance sheet date of the reporting period and the expected reset rate is less than the then-current coupon rate on the PARRS, the PARRS are included in current maturities.  Otherwise, the PARRS are included in long-term debt.  

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Debt Securities ActivityThe table below summarizes the long-term debt securities activity for the years ended September 30, 2025 and 2024.Debt Securities ActivityFor the years ended September 30(in millions)396720252024IssuesVariable interest entities$800 $— 2024 Series A(1)— 1,000 2025 Series A(2)1,250 — 2025 Series B(3)1,500 — 2025 Series C(4)1,250 — Discount on debt issues(33)(9)Total$4,767 $991 Redemptions/Maturities(5) 2009 Series B$22 $22 2014 Series A— 1,000 2020 Series A1,000 — Total redemptions/maturities of power bonds1,022 1,022 Debt of variable interest entities41 35 Total redemptions/maturities of debt$1,063 $1,057 Notes(1)  The 2024 Series A Bonds were issued at 99.109 percent of par.(2)  The 2025 Series A Bonds were issued at 98.517 percent of par. (3)  The 2025 Series B Bonds were issued at 99.360 percent of par.(4)  The 2025 Series C Bonds were issued at 99.593 percent of par. (5)  All redemptions were at 100 percent of par.Debt Outstanding    Total debt outstanding at September 30, 2025 and 2024, consisted of the following: Short-Term DebtAt September 30(in millions) CUSIP or Other Identifier Maturity Coupon Rate202520