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Debt and Other Obligations
 9 Months Ended
Jun. 30, 2013
Debt Disclosure [Abstract]  
Debt and Other Obligations
Debt and Other Obligations

Debt Outstanding

Total debt outstanding at June 30, 2013, and September 30, 2012, consisted of the following:
 
Debt Outstanding 
 
At June 30, 2013
 
At September 30, 2012
Short-term debt
 
 
 
Short-term debt, net
$
2,395

 
$
1,507

Current maturities of long-term debt of variable interest entities
13

 
13

Current maturities of power bonds
972

 
2,308

Total current debt outstanding, net
3,380

 
3,828

Long-term debt
 

 
 

Long-term debt of variable interest entities
975

 
981

Long-term power bonds
21,296

 
20,330

Unamortized discounts, premiums and other
(82
)
 
(61
)
Total long-term debt, net
22,189

 
21,250

Total outstanding debt
$
25,569

 
$
25,078



Debt Securities Activity

The table below summarizes the long-term debt securities activity for the period from October 1, 2012, to June 30, 2013.
Debt Securities Activity
 
Date
 
Amount
 
Interest Rate
 
 
 
 
 
 
Issues
 
 
 
 
 
2012 Series B(1)
December 2012
 
$
1,000

 
3.50
%
electronotes®
Second Quarter 2013
 
92

 
3.21
%
electronotes®
Third Quarter 2013
 
13

 
3.15
%
Discount on debt issues
 
 
(25
)
 
 
Total long-term debt issuances
 
 
$
1,080

 
 
 
 
 
 
 
 
Redemptions/Maturities(2)
 
 
 
 
 
2009 Series A
November 2012
 
$
2

 
2.25
%
2009 Series B
December 2012
 
1

 
3.77
%
1998 Series C
March 2013
 
1,359

 
6.00
%
1999 Series A
May 2013
 
1

 
4.15
%
2009 Series A
May 2013
 
2

 
2.25
%
1998 Series D
June 2013
 
2

 
4.06
%
2009 Series B
June 2013
 
1

 
3.77
%
electronotes®
First Quarter 2013
 
8

 
4.91
%
electronotes®
Second Quarter 2013
 
17

 
4.98
%
electronotes®
Third Quarter 2013
 
24

 
4.18
%
Total redemptions/maturities
 
 
$
1,417

 
 

Notes
(1) The 2012 Series B bonds were issued at 97.49 percent of par.
(2) All redemptions were at 100 percent of par.

Credit Facility Agreements. TVA and the U.S. Treasury, pursuant to the TVA Act, have entered into a memorandum of understanding under which the U.S. Treasury provides TVA with a $150 million credit facility. This credit facility was renewed for fiscal year 2014 with a maturity date of September 30, 2014. Access to this credit facility or other similar financing arrangements with the U.S. Treasury has been available to TVA since the 1960s. TVA plans to use the U.S. Treasury credit facility as a secondary source of liquidity. The interest rate on any borrowing under this facility is based on the average rate on outstanding marketable obligations of the United States with maturities from date of issue of one year or less. There were no outstanding borrowings under the facility at June 30, 2013 or September 30, 2012.

TVA also has funding available in the form of three long-term revolving credit facilities totaling $2.5 billion. One $1.0 billion credit facility matures on June 25, 2017, another $1.0 billion credit facility matures on December 13, 2017, and the $0.5 billion credit facility matures on April 5, 2018. The interest rate on any borrowing under these facilities varies 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 total $2.5 billion that TVA has not borrowed or committed under letters of credit. This fee, along with letter of credit fees, may fluctuate depending on the rating of TVA's senior unsecured long-term non-credit enhanced debt. At June 30, 2013, there were $1.0 billion of letters of credit outstanding under the facilities, and there were no borrowings outstanding. See Note 13 — Other Derivative Instruments — Collateral.