Tennessee Valley Authority entered into a Third Amended and Restated Credit Agreement providing up to $1.0 billion in revolving loans and letters of credit. The facility, led by Toronto Dominion (Texas) as administrative agent and Toronto-Dominion Bank, New York Branch as letter of credit issuer, extends to July 10, 2031. Pricing is variable based on market factors and TVA's senior unsecured ratings, with applicable unused commitment and letter of credit fees. The agreement enhances TVA's liquidity and financial flexibility.
Agreement details:
- Agreement type: Third Amended and Restated unsecured revolving credit and letter of credit facility
- Counterparty: Toronto Dominion (Texas) as Administrative Agent; Toronto-Dominion Bank, New York Branch as L/C Issuer; Bank of America; Canadian Imperial Bank of Commerce; Morgan Stanley Bank; Bank of New York Mellon; U.S. Bank
- Signed / Effective: Jul 10 2026 / same
- Duration / Termination: 5 years, to Jul 10 2031
- Reason: Extend liquidity and letter of credit capacity
Original SEC Filing:
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