New Issue: Entergy Arkansas prices $425 million 5.15% bonds due 2033 at 140 bps over Treasuries

By Wendy Van Sickle

Columbus, Ohio, Jan. 3 – Entergy Arkansas, LLC priced $425 million of 5.15% 10-year first mortgage bonds (A2/A) at 99.673 to yield 5.192%, or 140 basis points over Treasuries, according to an FWP filing with the Securities and Exchange Commission.

The bonds have a make-whole call and then a par call.

J.P. Morgan Securities LLC, Mizuho Securities USA LLC, SMBC Nikko Securities America, Inc., Stephens Inc. and U.S. Bancorp Investments, Inc. are the bookrunners.

Proceeds will be used, with available funds, to repay or redeem Entergy’s $250 million 3.05% first mortgage bonds due Jan. 1, 2023 and for general corporate purposes.

Entergy Arkansas is a Little Rock, Ark.-based energy provider.

Issuer:	Entergy Arkansas LLC
Amount:	$425 million
Issue:	First mortgage bonds
Maturity:	Jan. 15, 2033
Bookrunners:	J.P. Morgan Securities LLC, Mizuho Securities USA LLC, SMBC Nikko Securities America, Inc., Stephens Inc. and U.S. Bancorp Investments, Inc.
Co-manager:	Loop Capital Markets LLC
Counsel to issuer:	Morgan, Lewis & Bockius LLP, Eldredge & Clark, LLP and Duggins Wren Mann & Romero, LLP
Counsel to underwriters:	Pillsbury Winthrop Shaw Pittman LLP
Coupon:	5.15%
Price:	99.673
Yield:	5.192%
Spread:	Treasuries plus 140 bps
Call features:	Make-whole call before Oct. 15, 2032 at Treasuries plus 20 bps; thereafter at par
Trade date:	Jan. 3
Settlement date:	Jan. 6
Ratings:	Moody’s: A2
	S&P: A
Distribution:	SEC registered
Cusip:	29366MAD0

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