Entergy Texas plans to price fixed-rate first mortgage bonds

By Marisa Wong

Los Angeles, Aug. 8 – Entergy Texas, Inc. is offering first mortgage bonds, according to a 424B3 filing with the Securities and Exchange Commission.

The notes will feature an optional make-whole call, followed by an optional par call.

BNP Paribas Securities Corp., BofA Securities, Inc., Goldman Sachs & Co. LLC, Regions Securities LLC and Scotia Capital (USA) Inc. are the joint bookrunners.

Siebert Williams Shank & Co., LLC will act as co-manager.

Bank of New York Mellon is the trustee.

Morgan, Lewis & Bockius LLP will advise the issuer on matters of New York law, and Jennings, Strouss & Salmon, PLLC will advise the issuer on matters of Texas law. Pillsbury Winthrop Shaw Pittman LLP will act as counsel for the underwriters.

The company plans to use proceeds from the new notes to finance, together with other available funds, the construction of the Orange County Advanced Power Station; to repay its borrowings under the Entergy system money pool, totaling about $23 million at Aug. 4 and bearing interest at the weighted average rate of 5.22% per year; and for general corporate purposes. Pending application of the net proceeds, the company may invest them in short-term, highly liquid, high-rated money market instruments or the Entergy system money pool.

The Woodlands, Tex.-based Entergy is a public electric utility company.

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