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Entergy Arkansas sells $350M first mortgage bonds


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Entergy Arkansas sells $350M first mortgage bonds

Entergy Arkansas LLC sold $350 million of its 4.20% first mortgage bonds due April 1, 2049. Proceeds from the sale, which closed March 19, will be used for general corporate purposes.

Until used, the Entergy Corp. subsidiary may invest proceeds in short-term money market instruments or the Entergy system money pool.

Interest is payable semiannually on April 1 and Oct. 1, starting Oct. 1. The bonds have a spread to benchmark Treasury of 123 basis points, according to a March 13 filing. The issuance was expected to be rated A2 by Moody's and A by S&P Global Ratings.

Barclays Capital Inc., J.P. Morgan Securities LLC, Stephens Inc. and U.S. Bancorp Investments Inc. acted as joint book-running managers. Mischler Financial Group Inc. served as sole co-manager.