By Stephanie N. Rotondo
Phoenix, June 26 - Entergy Louisiana LLC priced a $200 million offering of 5.25% $25-par first mortgage bonds due July 1, 2052, according to a market source on Tuesday.
Price talk was revised to around 5.25%, according to a trader at midday. The deal was upsized from $100 million.
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.
| Issuer: | Entergy Louisiana LLC
|
| Securities: | First mortgage bonds
|
| Amount: | $200 million
|
| Maturity: | July 1, 2052
|
| Coupon: | 5.25%, payable quarterly
|
| Price: | $25 per note
|
| Call option: | At par beginning July 1, 2017
|
| Bookrunners: | Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and Wells Fargo Securities LLC
|
| Co-managers: | J.P. Morgan Securities LLC and Raymond James & Associates Inc.
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
| Pricing date: | June 26
|
| Settlement date: | July 3
|
© 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.
