By Cristal Cody
Tupelo, Miss., Sept. 16 – Entergy Texas Inc. priced $300 million of 3.55% 30-year first mortgage bonds (Baa1/A) on Monday at 99.177 to yield 3.595%, or a spread of Treasuries plus 128 basis points, according to a market source and an FWP filing with the Securities and Exchange Commission.
Initial price talk was in the Treasuries plus 150 bps area.
BNP Paribas Securities Corp., Mizuho Securities USA LLC, MUFG, Regions Securities LLC and Wells Fargo Securities LLC were the bookrunners.
Proceeds will be used to finance the construction of the Montgomery County Power Station and for general corporate purposes.
Entergy Texas is a Beaumont, Tex.-based energy provider.
| Issuer: | Entergy Texas Inc.
|
| Amount: | $300 million
|
| Description: | First mortgage bonds
|
| Maturity: | Sept. 30, 2049
|
| Bookrunners: | BNP Paribas Securities Corp., Mizuho Securities USA LLC, MUFG, Regions Securities LLC and Wells Fargo Securities LLC
|
| Co-managers: | Loop Capital Markets LLC
|
| Coupon: | 3.55%
|
| Price: | 99.177
|
| Yield: | 3.595%
|
| Spread: | Treasuries plus 128 bps
|
| Call features: | Make-whole call at Treasuries plus 20 bps before March 30, 2049; thereafter at par
|
| Trade date: | Sept. 16
|
| Settlement date: | Sept. 20
|
| Ratings: | Moody’s: Baa1
|
| S&P: A
|
| Distribution: | SEC registered
|
| Price guidance: | Treasuries plus 130 bps area, plus or minus 5 bps; initial talk at Treasuries plus 150 bps area
|
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