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Entergy Texas sells $700M of 1st mortgage bonds

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Entergy Texas sells $700M of 1st mortgage bonds

Entergy Texas Inc. on Jan. 8 sold a total of $700 million of first mortgage bonds, according to a filing.

The first mortgage bonds consist of $300 million of 4.0% series due March 30, 2029, and $400 million of 4.5% series due March 30, 2039.

Interest on the bonds is payable every March 30 and Sept. 30, starting March 30.

The Entergy Corp. subsidiary plans to use net proceeds from the issuance and sale of the bonds to repay at maturity $500 million of its first mortgage bonds, 7.125% series due Feb. 1, and for general corporate purposes.

BNP Paribas Securities Corp., KeyBanc Capital Markets Inc., Mizuho Securities USA LLC, MUFG Securities Americas Inc., and Scotia Capital (USA) Inc. served as joint book-running managers for the transaction while Loop Capital Markets LLC and Siebert Cisneros Shank & Co. LLC served as co-managers.