Entergy Texas to sell add-on to 3.55% first mortgage bonds due 2049

By Devika Patel

Knoxville, Tenn., March 5 – Entergy Texas Inc. will price an add-on to its 3.55% first mortgage bonds (Baa1/A) due Sept. 30, 2049, according to a 424B3 filed with the Securities and Exchange Commission.

The company sold $300 million of the bonds in a sale that priced on Sept. 16, 2019 and settled on Sept. 20, 2019. The bonds were sold at 99.177 to yield 3.595% with a spread of Treasuries plus 128 basis points.

The bonds have a make-whole call at Treasuries plus 20 bps before March 30, 2049, and then a par call.

J.P. Morgan Securities LLC, Mizuho Securities USA Inc. and U.S. Bancorp Investments Inc. are the bookrunners.

Loop Capital Markets LLC and Siebert Cisneros Shank & Co., LLC are the co-managers.

Proceeds may be used to repurchase debt and for general corporate purposes.

Entergy Texas is a Beaumont, Tex.-based energy provider.

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