Entergy Arkansas to offer additional 4.2% bonds due 2049

By William Gullotti

Buffalo, N.Y., March 2 – Entergy Arkansas, LLC intends to conduct an additional offering of its 4.2% first mortgage bonds due April 1, 2049, according to a 424B3 filed with the Securities and Exchange Commission.

The additional bonds will be issued using the same Cusip number as the company’s initial $360 million issuance on March 19, 2019, priced at 99.407 to yield 4.235%, or 123 basis points over Treasuries, and will be consolidated to form a single series with the initial issue.

As with the initial series, the bonds will have a make-whole call before Oct. 1, 2048 at Treasuries plus 20 bps followed by a par call.

BNP Paribas Securities Corp., Mizuho Securities USA LLC, Stephens Inc. and Wells Fargo Securities, LLC will be the joint bookrunning managers for the additional bonds.

Proceeds will be used for general corporate purposes, including the repayment of borrowings from the Entergy System money pool.

Entergy Arkansas is a New Orleans-based energy provider.

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