By Andrea Heisinger
New York, Nov. 28 - Entergy Louisiana, LLC has priced an upsized $200 million of 3.3% 10-year first mortgage bonds (Baa2/BBB/) on Wednesday to yield Treasuries plus 170 basis points, a market source said.
The size of the trade was increased from $150 million.
Pricing was at 99.789 to yield 3.325%. There is a make-whole call at Treasuries plus 25 bps until Sept. 1, 2022, with a par call after that date.
Bookrunners were BNP Paribas Securities Corp., Goldman Sachs & Co. and Mizuho Securities USA Inc.
Proceeds will be used for general corporate purposes.
The utility subsidiary of Entergy Corp. is based in New Orleans.
| Issuer: | Entergy Louisiana LLC
|
| Issue: | First mortgage bonds
|
| Amount: | $200 million, upsized from $150 million
|
| Maturity: | Dec. 1, 2022
|
| Bookrunners: | BNP Paribas Securities Corp., Goldman Sachs & Co., Mizuho Securities USA Inc.
|
| Co-manager: | U.S. Bancorp Investment Inc.
|
| Coupon: | 3.3%
|
| Price: | 99.789
|
| Yield: | 3.325%
|
| Spread: | Treasuries plus 170 bps
|
| Call: | Make-whole at Treasuries plus 25 bps until Sept. 1, 2022, with a par call after
|
| Trade date: | Nov. 28
|
| Settlement date: | Dec. 4
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB
|
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