By Andrea Heisinger
New York, Nov. 10 - Entergy Louisiana, LLC sold $400 million of 5.4% 15-year first mortgage bonds on Tuesday to yield 195 basis points over Treasuries, a syndicate source away from the sale said.
The notes (A3/A-/) priced at 99.658 to yield 5.434%. There is a make-whole call at 35 bps over Treasuries.
KeyBanc Capital Markets, J.P. Morgan Securities Inc. and RBS Securities Inc. were the bookrunners.
Co-managers were BNP Paribas Securities Corp. and Wells Fargo Securities.
Proceeds will go toward working capital and general corporate purposes.
The subsidiary of utility company Entergy Corp. is based in New Orleans.
| Issuer: | Entergy Louisiana, LLC
|
| Issue: | First mortgage bonds
|
| Amount: | $400 million
|
| Maturity: | Nov. 1, 2024
|
| Bookrunners: | J.P. Morgan Securities Inc., KeyBanc Capital Markets, RBS Securities Inc.
|
| Co-managers: | BNP Paribas Securities Corp., Wells Fargo Securities
|
| Coupon: | 5.4%
|
| Price: | 99.658
|
| Yield: | 5.434%
|
| Spread: | Treasuries plus 195 bps
|
| Call: | Make-whole at Treasuries plus 35 bps
|
| Trade date: | Nov. 10
|
| Settlement date: | Nov. 16
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
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