By Andrea Heisinger
Omaha, July 14 - Entergy Arkansas, Inc. priced $300 million of 5.4% five-year first mortgage bonds Monday to yield Treasuries plus 223 basis points, according to an FWP filing with the Securities and Exchange Commission.
The notes (Baa1/A-/BBB+) priced at 99.993 to yield 5.401%.
There is a make-whole redemption option of Treasuries plus 35 bps.
Bookrunners were Bank of New York Mellon Capital Markets, Barclays Capital Inc. and J.P. Morgan Securities Inc.
Co-managers were KeyBanc Capital Markets, Scotia Capital and Stephens, Inc.
Proceeds will be used to fund the purchase of and improvements related to the Ouachita Generating facility and will be used for general corporate purposes.
The electric company is based in Little Rock, Ark.
Issuer: | Entergy Arkansas, Inc.
|
Issue: | First mortgage bonds
|
Amount: | $300 million
|
Maturity: | Aug. 1, 2013
|
Bookrunners: | Bank of New York Mellon Capital Markets, Barclays Capital Inc., J.P. Morgan Securities Inc.
|
Co-managers: | KeyBanc Capital Markets, Scotia Capital, Stephens, Inc.
|
Coupon: | 5.4%
|
Price: | 99.993
|
Yield: | 5.401%
|
Spread: | Treasuries plus 223 bps
|
Call: | Make-whole at Treasuries plus 35 bps
|
Trade date: | July 14
|
Settlement date: | July 17
|
Ratings: | Moody's: Baa1
|
| Standard & Poor's: A-
|
| Fitch: BBB+
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.