Company: TVC
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001376986-25-000044
Chunk: 512

Company: Tennessee Valley Authority
Filing Date: 2025-07-29
Form: 10-Q
Item: Part II, Item 13
Chunk 512
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13.  Debt and Other Obligations 

Debt OutstandingTotal debt outstanding at June 30, 2025, and September 30, 2024, consisted of the following:Debt Outstanding (in millions) At June 30, 2025At September 30, 2024Short-term debt  Short-term debt, net of discounts$319 $1,167 Current maturities of power bonds issued at par1,370 1,022 Current maturities of long-term debt of VIEs issued at par48 37 Total current debt outstanding, net1,737 2,226 Long-term debt  Long-term 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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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