Entergy Arkansas’ 4.875% $25-par first mortgage bonds list on NYSE

By Stephanie N. Rotondo

Seattle, Aug. 17 – Entergy Arkansas Inc.’s $410 million of 4.875% $25-par first mortgage bonds due Sept. 1, 2066 began trading on the New York Stock Exchange on Wednesday, a market source reported.

The ticker symbol is “EAI.” The deal priced Aug. 9.

Price talk was in the 4.875% area.

Wells Fargo Securities LLC, BofA Merrill Lynch and Morgan Stanley & Co. LLC were the joint bookrunners. J.P. Morgan Securities LLC, Goldman Sachs & Co. and Ramirez & Co. Inc. were the co-managers.

Interest is payable on the first day of March, June, September and December, beginning Dec. 1. The bonds become redeemable on or after Sept. 1, 2021 at par plus accrued interest.

Proceeds will be used, along with available funds, to redeem $85 million of preferred stock paying dividends at 6.08% to 6.45%, to redeem $325 million of first mortgage bonds maturing between 2033 and 2040 that pay interest between 5.75% and 5.9% and for general corporate purposes.

Entergy Arkansas is a subsidiary of New Orleans-based power provider Entergy Corp.

© 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.