By Andrea Heisinger
New York, March 21 - Entergy Louisiana, LLC sold $200 million of 4.8% 10-year first mortgage bonds on Monday at 150 basis points over Treasuries, according to an FWP filing with the Securities and Exchange Commission.
The bonds (A3/A-) were priced at 99.827 to yield 4.821%. They are callable at a make-whole amount of 25 bps over Treasuries before Feb. 1, 2021 and after that at par.
Bookrunners were Barclays Capital Inc., BNP Paribas Securities Corp., Mizuho Securities USA Inc. and Mitsubishi UFJ Securities International plc.
Co-managers were Credit Suisse Securities (USA) LLC and KeyBanc Capital Markets Inc.
Proceeds are being used to purchase Unit 2 or the Acadia Energy Center on or about March 31 for $300 million.
The utility subsidiary of Entergy Corp. is based in Baton Rouge, Louisiana.
| Issuer: | Entergy Louisiana, LLC
|
| Issue: | First mortgage bonds
|
| Amount: | $200 million
|
| Maturity: | May 1, 2021
|
| Bookrunners: | Barclays Capital Inc., BNP Paribas Securities Corp., Mizuho Securities USA Inc., | Mitsubishi UFJ Securities International plc
|
| Co-managers: | Credit Suisse Securities (USA) LLC, KeyBanc Capital Markets Inc.
|
| Coupon: | 4.8%
|
| Price: | 99.827
|
| Yield: | 4.821%
|
| Spread: | Treasuries plus 150 bps
|
| Call: | Make-whole at Treasuries plus 25 bps before Feb. 1, 2021 and after at par
|
| Trade date: | March 21
|
| Settlement date: | March 24
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
© 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.
