Joint Bookrunner
Entergy Arkansas, LLC
Debt Capital Markets
Senior Secured First Mortgage Notes Due 2049
Transaction Details
- On March 4, 2022, Entergy Arkansas, LLC (“EAL”) closed a $200 million tack-on offering (the “Tack-on Notes”) to its outstanding 4.20% Senior Secured First Mortgage Notes due 2049 issued on March 19, 2019
- The Tack-on Notes were issued at 105.875% of the principal amount plus accrued interest from October 1, 2021 for a re-offer yield of 3.845%
- EAL intends to use the net proceeds from the issuance and sale of the new Tack-on Notes for general corporate purposes, including the repayment of an inter-company borrowing
- Issue ratings were A (S&P Global Ratings) / A2 (Moody’s Investors Service)
About the company
Entergy Arkansas, LLC serves approximately 728,000 customers in 63 counties. Entergy Arkansas is a subsidiary of Entergy Corporation (“Entergy”), an integrated energy company engaged primarily in electric power production and retail distribution operations. Entergy owns and operates power plants with approximately 26,000 MW of electric generating capacity, including approximately 6,000 MW of nuclear power. Entergy delivers electricity to 3 million utility customers in Arkansas, Louisiana, Mississippi, and Texas. Entergy had annual revenues of $11.7 billion in 2021 and had more than 12,000 employees as of December 31, 2021.
Sources: Company Filings
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A rating reflects the opinion of the ratings agency and is not a recommendation to buy, sell or hold securities. Ratings are subject to revision or withdrawal at any time by the ratings agency. Investors should evaluate any investment on the basis of their own independent due diligence. Further information on the rating of securities may be found in the linked prospectus.
The offering of these securities is being made only by means of a prospectus, copies of which may be obtained from Stephens Inc.’s Fixed Income Syndicate Desk, at Stephens Inc., 111 Center Street, Little Rock, AR 72201, ATTN: Fixed Income Syndicate Desk, or from the Securities and Exchange Commission’s website at www.sec.gov at the following link:
https://www.sec.gov/Archives/edgar/data/0000007323/000006598422000024/d318583d424b2.htm. A registration statement relating to these securities has been filed with the Securities and Exchange Commission. No offer to buy the securities can be accepted and no part of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to the notice of its acceptance given after the effective date.
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