New Issue: Entergy Louisiana prices $250 million 4.95% 30-year mortgage bonds at 192 bps spread

By Aleesia Forni

Virginia Beach, Nov. 18 – Entergy Louisiana LLC sold $250 million of 4.95% 30-year first mortgage bonds (A2/A-/) on Tuesday at Treasuries plus 192 basis points, according to an informed source and an FWP filing with the Securities and Exchange Commission.

Pricing was at 99.616 to yield 4.974%.

The notes sold at the tight end of the Treasuries plus 195 bps area talk, which tightened from guidance set in the Treasuries plus low-200 bps area.

BNP Paribas Securities Corp., MUFG, Mizuho Securities USA Inc., RBS Securities Inc. and Scotia Capital (USA) Inc. were the joint bookrunners.

Proceeds will be used to repay the company’s outstanding $250 million 1.875% first mortgage bonds due Dec. 15, 2014.

Entergy Louisiana is a Jefferson, La.-based energy provider.

Issuer:	Entergy Louisiana LLC
Amount:	$250 million
Description:	First mortgage bonds
Maturity:	Jan. 15, 2045
Bookrunners:	BNP Paribas Securities Corp., MUFG, Mizuho Securities USA Inc., RBS Securities Inc., Scotia Capital (USA) Inc.
Co-managers:	Regions Securities LLC, U.S. Bancorp Investments Inc., CastleOak Securities LP, Mischler Financial Group Inc.
Coupon:	4.95%
Price:	99.616
Yield:	4.974%
Spread:	Treasuries plus 192 bps
Make-whole call:	Treasuries plus 30 bps prior to Jan. 15, 2025, then callable at par
Trade date:	Nov. 18
Settlement date:	Nov. 21
Ratings:	Moody’s: A2
	Standard & Poor's: A-
Price talk:	Treasuries plus 195 bps area, tightened from Treasuries plus low-200 bps area

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