By Andrea Heisinger
New York, Oct. 5 - Entergy Arkansas, Inc. priced an upsized $225 million of 5.75% 30-year first mortgage bonds on Tuesday at par of $25, according to an FWP filing with the Securities and Exchange Commission.
The bonds were talked with a yield in the range of 5.75% to 5.875% and were priced at the tight end of that range. The deal size was originally $150 million when it was announced on Monday in a 424B3 filing with the SEC.
The notes (A3/A-/) are callable on or after Nov. 1, 2015 at par plus accrued interest.
Citigroup Global Markets Inc. and Wells Fargo Securities LLC were the bookrunners. Joint lead manager was Stephens Inc.
Proceeds are going to repay outstanding debt with interest rates ranging from 6% to 6.7% per year maturing in 2032 and for general corporate purposes.
The subsidiary of energy company Entergy Corp. is based in New Orleans.
| Issuer: | Entergy Arkansas, Inc.
|
| Issue: | First mortgage bonds
|
| Amount: | $225 million, upsized from $150 million
|
| Maturity: | Nov. 1, 2040
|
| Bookrunners: | Citigroup Global Markets Inc., Wells Fargo Securities LLC
|
| Joint lead manager: | Stephens Inc.
|
| Coupon: | 5.75%
|
| Price: | Par of $25
|
| Yield: | 5.75%
|
| Call: | On or after Nov. 1, 2015 at par plus accrued interest
|
| Trade date: | Oct. 5
|
| Settlement date: | Oct. 8
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
| Price talk: | 5.75% to 5.875% yield
|
© 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.
