Full text of Federal Reserve Bank of New York Circulars : Results of Bidding for TVA Power Notes

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Federal R eserve
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A R E A C O D E 212 7 3 2 - 5 7 0 0

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iscal

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the

A g e n t o f t h e Un i t e d S t a t e s
T e n n e s s e e Va l l e y Au t h o r i t y

March 24, 1970

Results of Bidding for TVA Power Notes

To Certain Commercial Banks, Trust Companies,
and Dealers in Investment Securities:

The following statement was authorized by the Tennessee Valley Authority
for issuance today, announcing the auction results of its recent offering of
Power Notes:
The Tennessee Valley Authority sold at auction today $90 million
par value of 126 -day discount notes at 97 *690, the highest bid, which
results in a rate of discount of 6.600 percent per annum on a 360 -day
basis.
1970.

The notes are dated March 26, 1970 and mature on July 30,
Total bids received were $631 million, of which $90 million were

accepted.




Alfred Hayes,
President

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