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Debt and Other Obligations (Tables)
 6 Months Ended
Mar. 31, 2018
Debt Disclosure [Abstract]  
Debt Outstanding
Total debt outstanding at March 31, 2018, and September 30, 2017, consisted of the following:
Debt Outstanding 
 
At March 31, 2018
 
At September 30, 2017
Short-term debt
 
 
 
Short-term debt, net
$
1,998

 
$
1,998

Current maturities of power bonds
2,031

 
1,728

Current maturities of long-term debt of variable interest entities
37

 
36

Current maturities of notes payable
46

 
53

Total current debt outstanding, net
4,112

 
3,815

Long-term debt
 

 
 

Long-term power bonds(1)
20,391

 
20,357

Long-term debt of variable interest entities
1,156

 
1,175

Long-term notes payable
47

 
69

Unamortized discounts, premiums, issue costs, and other
(160
)
 
(163
)
Total long-term debt, net
21,434

 
21,438

Total outstanding debt
$
25,546

 
$
25,253


Note
(1) Includes net exchange gain from currency transactions of $87 million and $125 million at March 31, 2018, and September 30, 2017, respectively.

Debt Securities Activity
The table below summarizes the long-term debt securities activity for the period from October 1, 2017, to March 31, 2018:
Debt Securities Activity
 
 
Date
 
Amount(1)
 
Interest Rate
Issues
 
 
 
 
 
 
 2018 Series A(2)
 
March 2018
 
$
1,000

 
2.25
%
Discount on debt issues
 
 
 
(2
)
 
 
Total long-term debt issuances
 
 
 
$
998

 
 
 
 
 
 
 
 
 
Redemptions/Maturities
 
 
 
 
 
 
electronotes®
 
First Quarter 2018
 
$
47

 
4.10
%
electronotes®
 
Second Quarter 2018
 
2

 
3.50
%
1997 Series E
 
First Quarter 2018
 
650

 
6.25
%
2009 Series B
 
First Quarter 2018
 
1

 
3.77
%
Total redemptions/maturities of power bonds
 
 
 
700

 


Notes payable
 
 
 
29

 
0.86
%
Debt of variable interest entities
 
 
 
18

 
4.31
%
Total redemptions/maturities of debt
 
 
 
$
747

 


Notes
(1) All redemptions were at 100 percent of par.
(2) The 2018 Series A bonds were issued at 99.8 percent of par.
Credit Facility Agreements  
Summary of Long-Term Credit Facilities
The following table provides additional information regarding TVA's funding available under the four long-term credit facilities:
Summary of Long-Term Credit Facilities
At March 31, 2018
 
Facility Limit
 
Letters of Credit Outstanding
 
Cash Borrowings
 
Availability
Maturity Date
 
 
 
 
 
 
 
 December 2019
$
150

 
$
38

 
$
—

 
$
112

 February 2022
500

 
500

 
—

 
—

 June 2020
1,000

 
171

 
—

 
829

 September 2020
1,000

 
212

 
—

 
788

Total
$
2,650

 
$
921

 
$
—

 
$
1,729