Entergy Mississippi’s $25-par 4.9% mortgage bonds admitted to NYSE

By Stephanie N. Rotondo

Seattle, Sept. 15 – Entergy Mississippi Inc.’s $260 million of 4.9% $25-par first mortgage bonds due Oct. 1, 2066 began trading on the New York Stock Exchange on Friday, a market source reported.

The ticker symbol is “EMP.”

The deal priced on Sept. 8, coming at the tight end of price talk for a yield of 4.95%.

BofA Merrill Lynch, Morgan Stanley & Co. LLC and Wells Fargo Securities LLC were the joint bookrunners. BNY Mellon Capital Markets LLC, JPMorgan Securities LLC and Ramirez & Co. Inc. were co-managers.

Interest is payable on the first of January, April, July and October, beginning Jan. 1. The bonds become redeemable on or after Oct. 1, 2021 at par.

The New Orleans-based subsidiary of Entergy Corp. will use proceeds to redeem $30 million of its 6.25% series cumulative preferred stock, to redeem another $230 million of outstanding 6% series first mortgage bonds due 2051 and 6.2% series first mortgage bonds due 2040, and for general corporate purposes.

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