The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Federal R eserve N e w Y o r k Ba n k , N.Y. of N ew York /4tV " 7 o 10045 AREA CODE 21? / 3; F iscal for the Agent of Tennessee the : Uni t e d Va l l e y States Au t h o r i t y December 26, 1972 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 $180 million par value of 1 1 9 -day discount notes at an average price of 9 8 . 23^, which results in a rate of discount of 5.3^3 percent per annum on a 360-day basis. The notes are dated December 28, 1972 and mature on April 26, 1973. Accepted bids ranged from a high price of 98.25^+ (5.282 percent discount) to a low of 98.225 (5*370 percent discount). Approximately 87 percent of the total amount bid for at the low price was accepted. Total bids received were $786 million, of which $180 million were accepted. Alfred Hayes, President.