Entergy Mississippi to price offering of first mortgage bonds

By William Gullotti

Buffalo, N.Y., May 9 – Entergy Mississippi, LLC is offering first mortgage bonds with a fixed rate, according to a 424B3 filing with the Securities and Exchange Commission.

The notes have a make-whole call and a par call.

Citigroup Global Markets Inc., MUFG Securities Americas Inc. and Wells Fargo Securities, LLC are the joint bookrunning managers. R. Seelaus & Co., LLC is listed as co-manager.

Bank of New York Mellon is the trustee.

Counsel to the issuer is being provided by Morgan, Lewis & Bockius LLP (New York), Wise Carter Child & Caraway, PA (Mississippi) and Jennings, Strouss & Salmon, plc (Texas).

The underwriters are being advised by Pillsbury Winthrop Shaw Pittman LLP.

Proceeds, together with other available funds, will be used (i) to repay or redeem on or prior to maturity the company’s outstanding $250 million 3.1% first mortgage bonds due July 1, 2023, (ii) to repay on or prior to maturity some or all of the outstanding indebtedness from the company’s term loan agreement, dated June 29, 2022, with Bank of Nova Scotia as administrative agent and/or (iii) for general corporate purposes.

As of May 5, 2023, $150 million was outstanding under the Dec. 29, 2023 maturing term loan agreement at a weighted average interest rate of 5.932%.

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

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