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): June 17, 2008
TENNESSEE VALLEY
AUTHORITY
(Exact
name of registrant as specified in its charter)
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A corporate agency of the United
States created by an act of Congress
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000-52313
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62-0474417
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(State or other jurisdiction
of incorporation or organization)
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(Commission file number)
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(IRS Employer Identification
No.)
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400 W. Summit Hill
Drive
Knoxville, Tennessee
(Address of principal
executive offices)
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37902
(Zip
Code)
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(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:
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item 2.03
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance
Sheet Arrangement of a Registrant.
On June 17, 2008, TVA entered into an
agreement to issue $500 million in TVA Global Power Bonds (the
“Bonds”). The settlement date for the transaction is June 20,
2008. The Bonds bear interest at a coupon rate of 5½ percent
beginning June 15, 2008, and pay interest semi-annually on each June 15 and
December 15, beginning December 15, 2008. The Bonds mature on June
15, 2038, and are not subject to redemption prior to maturity. Net
proceeds to TVA are 99.177 percent, exclusive of expenses incurred in
connection with offering the Bonds. In addition, TVA will receive
accrued interest from June 15, 2008, to the settlement date.
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.
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Tennessee Valley
Authority
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(Registrant)
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Date:
June 23, 2008
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/s/ Kimberly
S. Greene
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Kimberly
S. Greene
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Chief
Financial Officer and Executive Vice
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President,
Financial Services
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