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

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Ar7oy(,
Federal R eserve
N

e w

Y

o r k

Ba n k
, N.Y.

of

N ew Y o r k

10045

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

F

iscal

for

the

Agent

of

Tennessee

the

Un i t e d

Valley

States

Autho r i t y

November 28, 1972

Results of Bidding for TVA Pover 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 $120 million
par value of 1 1 9 -day discount notes at 98 .3 2 1 , the highest bid, which
results in a rate of discount of 5.079 percent per annum on a 360-day
basis.

The notes are dated November 30, 1972 and mature on March 29,

1973.
Total bids received were $8^9 million, of which $120 million were
accepted.




Alfred Hayes,
President.