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Entergy Louisiana closes the sale of $525M in bonds


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Entergy Louisiana closes the sale of $525M in bonds

Entergy Louisiana LLC on March 12 completed the sale of $525 million of 4.20% collateral trust mortgage bonds, due April 1, 2050.

Interest on the bonds is payable semiannually April 1 and Oct. 1, starting Oct. 1.

The Entergy Corp. subsidiary intends to apply the proceeds from the sale of bonds, together with other available funds, to finance the construction of the combined-cycle 1,000-MW Lake Charles and 945-MW St. Charles power stations in Louisiana and for general corporate purposes.

Pending such investment, the company will invest the proceeds in short-term money market instruments or the Entergy system money pool.

Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, Merrill Lynch Pierce Fenner & Smith Inc., SMBC Nikko Securities America Inc. and Wells Fargo Securities LLC acted as book managers, and R. Seelaus & Co. LLC acted as co-manager.