Entergy Louisiana plans $25-par first mortgage bonds; talk around 5.25%

By Stephanie N. Rotondo

Phoenix, June 26 - Entergy Louisiana LLC is planning an offering of $25-par first mortgage bonds due July 1, 2052, according to a prospectus filed with the Securities and Exchange Commission on Tuesday.

Price talk was revised to around 5.25%, according to a trader. Pricing was expected to occur by the end of Tuesday.

Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and Wells Fargo Securities LLC are the joint bookrunning managers. J.P. Morgan Securities LLC and Raymond James & Associates Inc. are the co-managers.

Interest will be paid on the first day of January, April, July and October beginning Oct. 1.

The bonds (A3/A-) can be redeemed at any time on or after July 1, 2017 at par plus accrued interest.

The company will apply to list the bonds on the New York Stock Exchange. The settlement date is expected to be July 3.

Proceeds will be used for general corporate purposes.

Entergy Louisiana is the Baton Rouge, La.-based energy-providing subsidiary of Entergy Corp.

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