Debt Capital Markets
First Mortgage Bonds
• On September 11, 2020, Entergy Arkansas, LLC (“EAL”) closed a $675 million offering of 2.65% First Mortgage Bonds (the “Bonds”) due June 15, 2051
• The Bonds were issued at 99.605% of the principal amount, resulting in a reoffer yield of 2.669%
• EAL intends to use the net proceeds from the issuance and sale of the Bonds:
a) To repay prior to maturity some or all of its outstanding (i) $350 million 3.75% First Mortgage Bonds due February 15, 2021, (ii) $200 million 4.90% First Mortgage Bonds due December 1, 2052, (iii) $125 million 4.75% First Mortgage Bonds due June 1, 2063, and
b) For general corporate purposes
• Issue ratings were A (S&P Global Ratings) / A2 (Moody’s Investors Service)
Entergy Arkansas, LLC
Entergy Arkansas, LLC provides electricity to approximately 711,000 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 30,000 megawatts of electric generating capacity, including nearly 8,000 megawatts of nuclear power. Entergy delivers electricity to 2.9 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of approximately $11 billion and more than 13,500 employees.
This material has been prepared solely for informative purposes as of its stated date and is not a solicitation, or an offer, to buy or sell any security. It does not purport to be a complete description of the securities, markets, or developments referred to in the material. Information included in the material was obtained from sources which we consider reliable, but we have not independently verified such information and do not guarantee that it is accurate or complete. Such information is believed to be accurate on the date of issuance of the material. No subsequent publication or distribution of this material shall mean or imply that any such information or opinion remains current at any time after the stated date of the material. We do not undertake to advise you of any changes in any such information or opinion. Additional information is available upon request.
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/7323/000006598420000253/d946275d424b2.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.
“Stephens” is the brand name for a family of independent privately held financial services firms, including Stephens Europe Limited, which is authorized and regulated by the Financial Conduct Authority (Registered office 36-38 Cornhill, London, EC3V 3NG, Registered number 8817024) and Stephens Inc. which is regulated by the United States Securities and Exchange Commission and the Financial Industry Regulatory Authority (Home Office: 111 Center Street, Little Rock, AR USA, 501-377-2000). Stephens Inc. is a member of NYSE and SIPC. For more information, visit www.stephens.com. © 2020 Stephens