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Entergy Louisiana offers new mortgage bonds, tap of 2051 bonds
By Devika Patel
Knoxville, Tenn., Nov. 9 – Entergy Louisiana LLC plans to sell collateral trust mortgage bonds in two tranches, including an add-on to its 2.9% collateral trust mortgage bonds due March 15, 2051, according to a 424B3 filed with the Securities and Exchange Commission.
The company previously sold $350 million of the 2051 bonds in a sale that priced on March 3 and settled on March 8.
The new notes will feature a make-whole call and then are callable at par. The 2051 notes have a make-whole call at Treasuries plus 20 bps until Sept. 15, 2050 and a par call after that date.
Citigroup Global Markets Inc., KeyBanc Capital Markets Inc., Mizuho Securities USA Inc., MUFG, Scotia Capital (USA) Inc. and SMBC Nikko Securities America Inc. are the bookrunners.
R. Seelaus & Co. Inc. is the co-manager.
Proceeds will be used to redeem $300 million of the company’s first mortgage bonds maturing between 2052 and 2063 and bearing interest at 4.7% to 5.25% per year and for general corporate purposes.
Entergy Louisiana is a Jefferson, La.-based energy provider.
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