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

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

F

eder al

R

Ba

e s e r v e
N ew

F

iscal

for

the

CODE

Agent
T

of

212

t he

ennessee

of

N

ew

Yo

r k

10045

N.Y.

York,

AREA

n k

732-5700

Un

it e d

Va l l e y

Au

St a t e s
thority

January 23, 1973

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 mil­
lion par value of 126 -day discount notes at an average price of
9T.983, which results in a rate of discount of 5*763 percent per
annum on a 360-day basis.

The notes are dated January 25, 1973 and

mature on May 31, 1973.
Accepted bids ranged from a high price of 97-989 (5-7^6 percent
discount) to a low of 97-978 (5-777 percent discount).

Approximately

76 percent of the total amount bid for at the low price was accepted.

Total bids received were $527 million, of which $90 million were
accepted.




Alfred Hayes,
President.