By Aleesia Forni
New York, March 8 – Entergy Texas Inc. priced $125 million of 2.55% five-year first mortgage bonds (Baa1/A-) on Tuesday at Treasuries plus 125 basis points, according to an informed source and an FWP filed with the Securities and Exchange Commission.
Pricing was at 99.808 to yield 2.59%.
The notes sold tighter than talk set in the 135 bps to 140 bps range over Treasuries.
Goldman Sachs & Co., KeyBanc Capital Markets and U.S. Bancorp Investments Inc. are the bookrunners.
Proceeds will be used for general corporate purposes.
Entergy Texas is a Beaumont, Texas-based energy provider.
| Issuer: | Entergy Texas Inc.
|
| Amount: | $125 million
|
| Description: | First mortgage bonds
|
| Maturity: | June 1, 2021
|
| Bookrunners: | Goldman Sachs & Co., KeyBanc Capital Markets, U.S. Bancorp Investments Inc.
|
| Coupon: | 2.55%
|
| Price: | 99.808
|
| Yield: | 2.59%
|
| Spread: | Treasuries plus 125 bps
|
| Make-whole call: | Treasuries plus 20 bps prior to May 1, 2021, then callable at par
|
| Trade date: | March 8
|
| Settlement date: | March 11
|
| Ratings: | Moody’s: Baa1
|
| Standard & Poor’s: A-
|
| Distribution: | SEC registered
|
| Price guidance: | Treasuries plus 135 bps to 140 bps
|
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