UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13, 15(d), or 37 of the Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported): March 5, 2008
TENNESSEE
VALLEY AUTHORITY
(Exact
name of registrant as specified in its charter)
|
A
corporate agency of the United States created by an act of
Congress
(State
or other jurisdiction of incorporation or organization)
|
000-52313
Commission
file number
|
62-0474417
(I.R.S.
Employer Identification No.)
|
||
|
400
W. Summit Hill Drive
Knoxville,
Tennessee
(Address
of principal executive offices)
|
37902
(Zip
Code)
|
(865) 632-2101
(Registrant’s
telephone number, including area code)
None
(Former
name or former address, if changed since last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
[ ] Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ] Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
[ ] Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
(1)
Item 2.03
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance
Sheet Arrangement of a Registrant.
On March
5, 2008, TVA entered into an agreement to issue $1 billion in TVA Global Power
Bonds (the “Bonds”). The settlement date for the transaction is March
12, 2008. The Bonds bear a coupon rate of 4.5% and pay interest
semi-annually on each April 1 and October 1, beginning October 1,
2008. The Bonds mature on April 1, 2018, and are not subject to
redemption prior to maturity. Net proceeds to TVA are 99.673%,
exclusive of expenses incurred in connection with offering the
Bonds.
These
Bonds, like the $500 million 4.875% 2008 Global Power Bonds Series A, due
January 15, 2048, which were issued in January 2008, can be separated into their
interest and principal components beginning on the first interest payment
date(s) of the respective bonds. The separate interest and principal
components can be maintained as such on the book-entry records of the U.S.
Federal Reserve Banks.
(2)
SIGNATURE
Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly
authorized.
Tennessee
Valley Authority
(Registrant)
Date:
March 11,
2008 /s/ Kimberly S.
Greene
Kimberly S. Greene
Chief Financial Officer
and Executive
Vice President, Financial
Services
(3)