By Andrea Heisinger
New York, Sept. 7 - Entergy Texas, Inc. priced $75 million of 4.1% 10-year first mortgage bonds on Wednesday to yield Treasuries plus 210 basis points, according to an FWP filing with the Securities and Exchange Commission.
The bonds (Baa2/BBB+/) were sold at 99.839 to yield 4.12%. They have a make-whole call at 35 bps over Treasuries until June 1, 2021 and can be redeemed after that date at par.
Bookrunners were Credit Suisse Securities (USA) LLC and KeyBanc Capital Markets Inc.
Proceeds are being used for general corporate purposes.
The utility subsidiary of Entergy Corp. is based in New Orleans.
| Issuer: | Entergy Texas, Inc.
|
| Issue: | First mortgage bonds
|
| Amount: | $75 million
|
| Maturity: | Sept. 1, 2021
|
| Bookrunners: | Credit Suisse Securities (USA) LLC, KeyBanc Capital Markets Inc.
|
| Coupon: | 4.1%
|
| Price: | 99.839
|
| Yield: | 4.12%
|
| Spread: | Treasuries plus 210 bps
|
| Call: | Make-whole at Treasuries plus 35 bps before June 1, 2021, after at par
|
| Trade date: | Sept. 7
|
| Settlement date: | Sept. 13
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB+
|
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