Company: TVC
Filing Date: 2025-02-05
Form Type: 10-Q
Source: 0001376986-25-000011
Chunk: 359

Company: Tennessee Valley Authority
Filing Date: 2025-02-05
Form: 10-Q
Item: Part II, Item 12
Chunk 359
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Table of Contents                               

12.  Debt and Other Obligations 

Debt OutstandingTotal debt outstanding at December 31, 2024, and September 30, 2024, consisted of the following:Debt Outstanding (in millions) At December 31, 2024At September 30, 2024Short-term debt  Short-term debt, net of discounts$1,357 $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