By Andrea Heisinger
New York, May 14 - Entergy Texas, Inc. sold $150 million of 7.875% 30-year first mortgage bonds Thursday at par of $25, according to an informed source and an FWP filing with the Securities and Exchange Commission.
The bonds (Baa3/BBB+/BBB) are non-callable for five years. They become callable on June 1, 2014 at par.
Bookrunners were Citigroup Global Markets, Morgan Stanley & Co. and Wachovia Capital Markets.
Co-manager was Morgan Keegan & Co.
Proceeds will be used to repay first mortgage bonds due Dec. 1 and for general corporate purposes. Pending that, the company will use a portion to repay borrowings from the Entergy System money pool, and for short-term investments.
The electric subsidiary of Entergy Corp. is based in Beaumont, Texas.
| Issuer: | Entergy Texas, Inc.
|
| Issue: | First mortgage bonds
|
| Amount: | $150 million
|
| Maturity: | June 1, 2039
|
| Bookrunners: | Citigroup Global Markets, Morgan Stanley & Co., Wachovia Capital Markets
|
| Co-manager: | Morgan Keegan & Co.
|
| Coupon: | 7.875%
|
| Price: | Par of $25
|
| Call: | Starting June 1, 2014 at par
|
| Trade date: | May 14
|
| Settlement date: | May 19
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB+
|
| Fitch: BBB
|
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