Entergy New Orleans’ 5.5% $25-par first mortgage bonds to list on NYSE on Thursday

By Stephanie N. Rotondo

Seattle, March 23 – Entergy New Orleans Inc.’s $110 million of 5.5% $25-par first mortgage bonds due April 1, 2066 are expected to list on the New York Stock Exchange on Thursday, according to a market source.

The ticker will be “ENO.” The deal priced March 15.

Price talk was originally 5.625% but was later revised to 5.5%.

BofA Merrill Lynch, Morgan Stanley & Co. LLC and Wells Fargo Securities LLC were the joint bookrunners. Samuel A. Ramirez & Co. Inc. was the co-manager.

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

Proceeds will be used to repay borrowings from the Entergy system money pool, to repay borrowings under a $25 million credit facility with Bank of America and for general corporate purposes.

Entergy New Orleans is a New Orleans-based power provider.

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