Memphis' Record $1.4 Billion Deal Locks in Electricity Prices

DeSue, Tedra
January 2005
Bond Buyer;Deal of The Year Awards, p8
Trade Publication
Focuses on the success of the multibillion dollar deal signed to help Tennessee's Memphis Light, Gas and Water Division, the first utility to prepay for electricity under the new Treasury regulation, in saving the targeted multimillion amount that was anticipated for 2004. Emergence of allegations and controversies despite the cost savings of the transaction; Plan of the officials to use the proceeds of the deal to acquire electricity from the Tennessee Valley Authority (TVA);Citation of the investors of the strength of the TVA as one of the several factors that made the deal appealing.


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