Company: TVC
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001376986-25-000029
Chunk: 455

Company: Tennessee Valley Authority
Filing Date: 2025-05-01
Form: 10-Q
Item: Part II, Item 13
Chunk 455
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13.  Debt and Other Obligations 

Debt OutstandingTotal debt outstanding at March 31, 2025, and September 30, 2024, consisted of the following:Debt Outstanding (in millions) At March 31, 2025At September 30, 2024Short-term debt  Short-term debt, net of discounts$351 $1,167 Current maturities of power bonds issued at par2,372 1,022 Current maturities of long-term debt of VIEs issued at par47 37 Total current debt outstanding, net2,770 2,226 Long-term debt  Long-term power bonds(1)17,876 17,995 Long-term debt of VIEs, net1,656 897 Unamortized discounts, premiums, issue costs, and other(147)(128)Total long-term debt, net19,385 18,764 Total debt outstanding$22,155 $20,990 Note(1)  Includes total net exchange gain from currency transactions of $80 million and $62 million at March 31, 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 March 31, 2025:Debt Securities Activity DateAmount(in millions)IssuesDebt of variable interest entitiesOctober 2024$800 2025 Series A(1)February 20251,250 Discount on debt issues(19)Total long-term debt issues$2,031 Redemptions/Maturities(2) 2009 Series BDecember 2024$1 Total redemptions/maturities of power bonds1 Debt of variable interest entities18 Total redemptions/maturities of debt$19 Notes(1)  The 2025 Series A Bonds were issued at 98.517 percent of par.(2)  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