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

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F E D E R A L R E S E R V E B AN K
O F N E W YO R K

Fiscal Agent of the United States
for the Tennessee Valley Authority

December 21, 1973

RESULTS OF BIDDING FOR TVA POWER NOTES

To Certain Commercial Banks, Trust Companies,
and D ealers in Investment S ecu rities:

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 119-day discount notes at a price
of 97*377, which results in a rate of discount of 7*935 per­
cent per annum on a 360-day "basis.

The notes are dated

December 27, 1973 and mature on April 25, 197^.
Total bids received were $1+20 million, of which $90 mil­
lion were accepted.

Alfred Hayes,
President.