New Issue: Entergy prices $750 million 2.95% 10-year notes to yield 140 bps over Treasuries

By Cristal Cody

Eureka Springs, Ark., Aug. 16 – Entergy Corp. sold $750 million of 2.95% 10-year senior notes with a spread of 140 basis points over Treasuries on Tuesday, according to an FWP filing with the Securities and Exchange Commission.

The notes (Baa3/BBB) priced at 99.775 to yield 2.976%.

Barclays, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, BNP Paribas Securities Corp., Mizuho Securities USA Inc., MUFG and Scotia Capital (USA) Inc. were the bookrunners.

Proceeds will be used to repay $500 million principal amount of 4.7% senior notes due Jan. 15, 2017 and a portion of outstanding commercial paper and/or a portion of debt outstanding under the company’s $3.5 billion revolving credit facility.

Entergy is an energy company based in New Orleans.

Issuer:	Entergy Corp.
Amount:	$750 million
Description:	Senior notes
Maturity:	Sept. 1, 2026
Bookrunners:	Barclays, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, BNP Paribas Securities Corp., Mizuho Securities USA Inc., MUFG, Scotia Capital (USA) Inc.
Coupon:	2.95%
Price:	99.775
Yield:	2.976%
Spread:	Treasuries plus 140 bps
Call feature:	Make-whole call before June 1, 2026 at Treasuries plus 25 bps; thereafter at par
Trade date:	Aug. 16
Settlement date:	Aug. 19
Ratings:	Moody’s: Baa3
	S&P: BBB
Distribution:	SEC registered

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