By Cristal Cody
Tupelo, Miss., March 3 – Entergy Louisiana LLC priced $350 million of 2.9% collateral trust mortgage bonds due March 15, 2051 on Tuesday at a spread of 130 basis points over Treasuries, according to an FWP filing with the Securities and Exchange Commission.
The bonds (A2/A) priced at 99.755 to yield 2.912%.
BNY Mellon Capital Markets, LLC, MUFG, Regions Securities LLC, Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC were the bookrunners.
Proceeds will be used to repay borrowings from the Entergy system money pool, an inter-company borrowing arrangement, to repay borrowings made in the first quarter of 2020 of approximately $100 million under its $350 million credit facility and for general corporate purposes.
Entergy Louisiana is a Jefferson, La.-based energy provider.
| Issuer: | Entergy Louisiana LLC
|
| Amount: | $350 million
|
| Description: | Collateral trust mortgage bonds
|
| Maturity: | March 15, 2051
|
| Bookrunners: | BNY Mellon Capital Markets, LLC, MUFG, Regions Securities LLC, Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC
|
| Co-manager: | Siebert Williams Shank & Co., LLC
|
| Coupon: | 2.9%
|
| Price: | 99.755
|
| Yield: | 2.912%
|
| Spread: | Treasuries plus 130 bps
|
| Call feature: | Make-whole call before Sept. 15, 2050 at Treasuries plus 20 bps; thereafter at par
|
| Trade date: | March 3
|
| Settlement date: | March 6
|
| Ratings: | Moody’s: A2
|
| S&P: A
|
| Distribution: | SEC registered
|
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