By Cristal Cody
Tupelo, Miss., Sept. 28 – Entergy Texas Inc. priced $600 million of 1.75% first mortgage bonds due March 15, 2031 (Baa1/A) on Monday at 99.63 to yield 1.789%, or a Treasuries plus 112.5 basis points spread, according to an FWP filing with the Securities and Exchange Commission.
Barclays, BNP Paribas Securities Corp., BNY Mellon Capital Markets LLC, BofA Securities Inc. and Goldman Sachs & Co. LLC were the bookrunners.
Proceeds will be used to repay the company’s $135 million of 5.625% first mortgage bonds due June 1, 2064 and $125 million of 2.55% first mortgage bonds due June 1, 2021 and for general corporate purposes.
Entergy Texas is a Beaumont, Tex.-based energy provider.
| Issuer: | Entergy Texas Inc.
|
| Amount: | $600 million
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| Description: | First mortgage bonds
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| Maturity: | March 15, 2031
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| Bookrunners: | Barclays, BNP Paribas Securities Corp., BNY Mellon Capital Markets LLC, BofA Securities Inc. and Goldman Sachs & Co. LLC
|
| Co-manager: | Mischler Financial Group Inc.
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| Coupon: | 1.75%
|
| Price: | 99.63
|
| Yield: | 1.789%
|
| Spread: | Treasuries plus 112.5 bps
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| Call features: | Make-whole call at Treasuries plus 20 bps before Dec. 15, 2030; thereafter at par
|
| Trade date: | Sept. 28
|
| Settlement date: | Oct. 1
|
| Ratings: | Moody’s: Baa1
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| S&P: A
|
| Distribution: | SEC registered
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