Entergy Mississippi eyes $170 million tap of 3.5% first mortgage bonds due 2051

By Devika Patel and Cristal Cody

Knoxville, Tenn., March 9 – Entergy Mississippi, LLC plans an additional sale of its 3.5% first mortgage bonds due June 1, 2051, according to a 424B3 filed with the Securities and Exchange Commission.

The tap is expected to be sized at $170 million and initial price talk has the add-on coming in the area of Treasuries plus 135 basis points, according to a market source.

The company sold $170 million of the notes on May 22, 2020.

The notes have a make-whole call at Treasuries plus 35 basis points until Dec. 1, 2050, and then are callable at par.

BofA Securities Inc., Mizuho Securities USA Inc. and Wells Fargo Securities LLC are the bookrunners. R. Seelaus & Co. Inc. is the co-manager.

Proceeds will be used to repay debt under the company’s revolving credit facilities and for general corporate purposes.

Entergy Mississippi is a Jackson, Miss.-based energy provider.

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