By Cristal Cody
Tupelo, Miss., March 13 – Entergy Arkansas, LLC priced a $100 million reopening of its 4% first mortgage bonds due June 1, 2028 (A2/A) on Friday at a spread of 175 basis points over Treasuries, according to a market source and an FWP filing with the Securities and Exchange Commission.
Initial price talk was in the Treasuries plus 185 bps area.
The bonds priced at 109.473 to yield 2.67%.
BNP Paribas Securities Corp., SMBC Nikko Securities America Inc. and Stephens Inc. were the bookrunners.
Entergy Arkansas originally sold $250 million of the notes on May 8, 2018 at 99.932 to yield 4.008% and a spread of 103 bps over Treasuries. The total outstanding is now $350 million.
Proceeds will be used for general corporate purposes.
Entergy Arkansas is a Little Rock, Ark.-based energy provider.
| Issuer: | Entergy Arkansas LLC
|
| Amount: | $100 million reopening
|
| Description: | First mortgage bonds
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| Maturity: | June 1, 2028
|
| Bookrunners: | BNP Paribas Securities Corp., SMBC Nikko Securities America Inc. and Stephens Inc.
|
| Coupon: | 4%
|
| Price: | 109.473
|
| Yield: | 2.67%
|
| Spread: | Treasuries plus 175 bps
|
| Call features: | Make-whole call before March 1, 2028 at Treasuries plus 20 bps; thereafter at par
|
| Trade date: | March 13
|
| Settlement date: | March 18
|
| Ratings: | Moody’s: A2
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| S&P: A
|
| Distribution: | SEC registered
|
| Price guidance: | Treasuries plus 185 bps area
|
| Total outstanding: | $350 million, including $250 million of notes priced May 8, 2018 at 99.932 to yield 4.008% and a spread of 103 bps over Treasuries
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