New Issue: Entergy Louisiana prices $425 million 3.25% bonds due 2028 at 135 bps spread

By Aleesia Forni

New York. March 17 – Entergy Louisiana LLC priced a $425 million issue of 3.25% collateral trust mortgage bonds (A2/A-) due April 1, 2028 at Treasuries plus 135 basis points, according to an FWP filed with the Securities and Exchange Commission.

Pricing was at 99.99 to yield 3.251%.

Barclays, BNP Paribas Securities Corp., MUFG and SMBC Nikko are the bookrunners.

Proceeds will be used to pay $60 million to purchase interests of Unit No. 3 (nuclear) of the Waterford Steam Electric Station, to repay borrowings from the Entergy system money pool and for general corporate purposes.

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

Issuer:	Entergy Louisiana LLC
Description:	Collateral trust bonds
Amount:	$425 million
Maturity:	April 1, 2028
Bookrunners:	Barclays, BNP Paribas Securities Corp., MUFG, SMBC Nikko
Co-managers:	Mischler Financial Group Inc., Regions Securities LLC, Williams Capital Group LP
Coupon:	3.25%
Price:	99.99
Yield:	3.251%
Spread:	Treasuries plus 135 bps
Trade date:	March 17
Settlement date:	March 24
Make-whole call:	Treasuries plus 25 bps prior to Jan. 1, 2028, then callable at par
Ratings:	Moody’s: A2
	Standard & Poor’s: A-
Distribution:	SEC registered

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