By Cristal Cody
Tupelo, Miss., Nov. 17 – Entergy Louisiana LLC priced $1.1 billion of 0.62% three-year collateral trust mortgage bonds (A2/A) on Tuesday at 99.982 to yield 0.626%, or a spread of Treasuries plus 40 basis points, according to an FWP filing with the Securities and Exchange Commission.
A tranche of floating-rate bonds was dropped from the final offering.
BofA Securities Inc., Mizuho Securities USA Inc., Morgan Stanley & Co. LLC, U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC were the bookrunners.
Proceeds will be used to finance, on an interim basis, costs associated with restoration related to Hurricanes Laura, Delta and Zeta with any remaining proceeds to be used for general corporate purposes.
Entergy Louisiana is a Jefferson, La.-based energy provider.
| Issuer: | Entergy Louisiana LLC
|
| Amount: | $1.1 billion
|
| Description: | Collateral trust mortgage bonds
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| Maturity: | Nov. 17, 2023
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| Bookrunners: | BofA Securities Inc., Mizuho Securities USA Inc., Morgan Stanley & Co. LLC, U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC
|
| Co-manager: | Siebert Williams Shank & Co. LLC
|
| Coupon: | 0.62%
|
| Price: | 99.982
|
| Yield: | 0.626%
|
| Spread: | Treasuries plus 40 bps
|
| Call feature: | On or after Nov. 17, 2021 at par
|
| Trade date: | Nov. 17
|
| Settlement date: | Nov. 24
|
| Ratings: | Moody’s: A2
|
| S&P: A
|
| Distribution: | SEC registered
|
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