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TVC > SEC Filings for TVC > Form 8-K on 10-Apr-2013All Recent SEC Filings

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Form 8-K for TENNESSEE VALLEY AUTHORITY


10-Apr-2013

Entry into a Material Definitive Agreement, Termination of a Material


Item 1.01 Entry into a Material Definitive Agreement.

On April 5, 2013, TVA entered into a $500,000,000 April 2018 Maturity Credit Agreement with Bank of America, N.A., as Administrative Agent, Letter of Credit Issuer, and a Lender, and the Other Lenders Party Thereto (the "Credit Agreement"). The Credit Agreement allows TVA to access up to $500,000,000 in either loans or letters of credit, and will expire on April 5, 2018. The interest rate on any borrowing under the Credit Agreement is variable based on market factors and the rating of TVA's senior unsecured long-term non-credit enhanced debt. TVA is required to pay an unused facility fee on the portion of the $500,000,000 against which TVA has not borrowed or committed under letters of credit. This fee, along with the fee on any letter of credit, may fluctuate depending on the rating of TVA's senior unsecured long-term non-credit enhanced debt.



Item 1.02 Termination of a Material Definitive Agreement.

On April 5, 2013, in connection with the entry into the Credit Agreement, TVA terminated the $500,000,000 Fall Maturity Credit Agreement Dated as of January 14, 2011 with Bank of America, N.A., as Administrative Agent, Letter of Credit Issuer, and a Lender, and the Other Lenders Party Thereto.



Item 9.01 Financial Statements and Exhibits.

   EXHIBIT NO.                        DESCRIPTION OF EXHIBIT
      10.1        $500,000,000 April 2018 Maturity Credit Agreement Dated as of
                  April 5, 2013, among TVA, Bank of America, N.A., as
                  Administrative Agent, Letter of Credit Issuer, and a Lender,
                  and the Other Lenders Party Thereto


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