By Cristal Cody
Tupelo, Miss., March 5 – Entergy Texas Inc. priced a $175 million add-on to its 3.55% first mortgage bonds due Sept. 30, 2049 (Baa1/A) on Thursday at 112.176 to yield 2.925%, according to an FWP filing with the Securities and Exchange Commission.
The notes priced at a spread of 137.5 basis points over Treasuries.
J.P. Morgan Securities LLC, Mizuho Securities USA Inc. and U.S. Bancorp Investments Inc. were the bookrunners.
Entergy Texas originally sold the notes in a $300 million offering on Sept. 16, 2019 at 99.177 to yield 3.595% and a spread of Treasuries plus 128 bps. The total outstanding is now $525 million.
Proceeds may be used to repurchase debt and for general corporate purposes.
Entergy Texas is a Beaumont, Tex.-based energy provider.
| Issuer: | Entergy Texas Inc.
|
| Amount: | $175 million reopening
|
| Description: | First mortgage bonds
|
| Maturity: | Sept. 30, 2049
|
| Bookrunners: | J.P. Morgan Securities LLC, Mizuho Securities USA Inc. and U.S. Bancorp Investments Inc.
|
| Coupon: | 3.55%
|
| Price: | 112.176
|
| Yield: | 2.925%
|
| Spread: | Treasuries plus 137.5 bps
|
| Call features: | Make-whole call at Treasuries plus 20 bps before March 30, 2049; thereafter at par
|
| Trade date: | March 5
|
| Settlement date: | March 10
|
| Ratings: | Moody’s: Baa1
|
| S&P: A
|
| Distribution: | SEC registered
|
| Total outstanding: | $525 million, including $300 million of notes priced Sept. 16, 2019 at 99.177 to yield 3.595% and a spread of Treasuries plus 128 bps
|
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