By Andrea Heisinger
New York, May 18 - Entergy Texas, Inc. priced $200 million 3.6% five-year mortgage bonds on Tuesday to yield Treasuries plus 150 basis points, an informed source said.
The notes (Baa2/BBB+/) priced at 99.913 to yield 3.619%. They have a make-whole call at Treasuries plus 25 bps.
There was no price guidance on the bonds, the source said, adding that the deal was small and got done quickly.
Bookrunners were BNP Paribas Securities Corp., Credit Suisse Securities LLC and RBS Securities Inc.
The unit of utility company Entergy Corp. is based in New Orleans.
| Issuer: | Entergy Texas, Inc.
|
| Issue: | Mortgage bonds
|
| Amount: | $200 million
|
| Maturity: | June 1, 2015
|
| Bookrunners: | BNP Paribas Securities Corp., Credit Suisse Securities LLC, RBS Securities Inc.
|
| Coupon: | 3.6%
|
| Price: | 99.913
|
| Yield: | 3.619%
|
| Spread: | Treasuries plus 150 bps
|
| Call: | Make-whole at Treasuries plus 25 bps
|
| Trade date: | May 18
|
| Settlement date: | May 25
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB+
|
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