By Cristal Cody
Tupelo, Miss., Sept. 8 – Entergy Arkansas, LLC priced $675 million of 2.65% first mortgage bonds due June 15, 2051 (A2/A) on Tuesday at 99.605 to yield 2.669% and a spread of 125 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 145 bps area.
J.P. Morgan Securities, LLC, Region Securities LLC, Scotia Capital (USA) Inc., SMBC Nikko Securities America Inc., Stephens Inc. and U.S. Bancorp Investments Inc. were the joint bookrunners.
Proceeds will be used to repay outstanding debt and for general corporate purposes.
Entergy Arkansas is a Little Rock, Ark.-based energy provider.
| Issuer: | Entergy Arkansas LLC
|
| Amount: | $675 million
|
| Description: | First mortgage bonds
|
| Maturity: | June 15, 2051
|
| Bookrunners: | J.P. Morgan Securities, LLC, Region Securities LLC, Scotia Capital (USA) Inc., SMBC Nikko Securities America Inc., Stephens Inc. and U.S. Bancorp Investments Inc.
|
| Co-manager: | Loop Capital Markets Inc.
|
| Coupon: | 2.65%
|
| Price: | 99.605
|
| Yield: | 2.669%
|
| Spread: | Treasuries plus 125 bps
|
| Call features: | Make-whole call before Dec. 15, 2050 at Treasuries plus 20 bps; thereafter at par
|
| Trade date: | Sept. 8
|
| Settlement date: | Sept. 11
|
| Ratings: | Moody’s: A2
|
| S&P: A
|
| Distribution: | SEC registered
|
| Price guidance: | Treasuries plus 145 bps area
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
