By Devika Patel and Cristal Cody
Knoxville, Tenn., Aug. 11 – Entergy Texas Inc. priced $130 million of 1.5% first mortgage bonds (Baa1/A) due Sept. 1, 2026 at 99.763 to yield 1.549%, or Treasuries plus 75 basis points, on Wednesday, according to an 8-K and FWP filed with the Securities and Exchange Commission.
The notes were talked in the Treasuries plus 95 bps area.
Scotia Capital (USA) Inc. and SMBC Nikko Securities America Inc. were the bookrunners.
Proceeds will be used to repay at maturity all of the company’s $75 million of 4.1% first mortgage bonds due Sept. 1, 2021 and for general corporate purposes.
Entergy Texas is a Beaumont, Tex.-based energy provider.
| Issuer: | Entergy Texas Inc.
|
| Securities: | First mortgage bonds
|
| Amount: | $130 million
|
| Maturity: | Sept. 1, 2026
|
| Bookrunners: | Scotia Capital (USA) Inc. and SMBC Nikko Securities America Inc.
|
| Coupon: | 1.5%
|
| Price: | 99.763
|
| Yield: | 1.549%
|
| Spread: | Treasuries plus 75 bps
|
| Call: | Make-whole call at Treasuries plus 15 bps until Aug. 1, 2026, then a par call
|
| Pricing date: | Aug. 11
|
| Settlement date: | Aug. 17
|
| Ratings: | Moody’s: Baa1
|
| S&P: A
|
| Distribution: | SEC registered
|
| Guidance: | Treasuries plus 95 bps area
|
| Cusip: | 29365TAL8
|
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