TVA obtains amended $1 billion facility at Libor plus 30-112.5 bps

By Susanna Moon

Chicago, Oct. 4 – Tennessee Valley Authority obtained an amended $1 billion credit agreement on Sept. 28 with TD Securities (USA) LLC as the lead arranger and bookrunner, according to an 8-K filing with the Securities and Exchange Commission.

Interest on the loans ranges from Libor plus 30 basis points to 112.5 bps, based on the company’s credit ratings. The commitment fee ranges from 12.5 bps to 45 bps.

Toronto Dominion (Texas) LLC is the administrative agent.

Other lenders include Bank of America, NA, Canadian Imperial Bank of Commerce, New York Branch, First Tennessee Bank NA, Morgan Stanley Bank, NA and Bank of New York Mellon.

Tennessee Valley Authority is a Knoxville, Tenn.-based electricity provider.

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