Entergy (NYSE:ETR) Louisiana, LLC has successfully completed the sale of $750 million in mortgage bonds, according to a recent 8-K filing with the Securities and Exchange Commission. The transaction, which closed today, involved the issuance of Collateral Trust Mortgage Bonds, 5.80% Series due March 15, 2055. This issuance adds to the company's existing total debt of $9.88 billion, as reported in the latest quarter.
The company, which operates within the electric services industry, entered into an Underwriting Agreement on January 2, 2025, for the sale of these bonds. The bonds were offered under the company's automatic shelf Registration Statement on Form S-3, which was effective upon filing. According to InvestingPro data, Entergy Louisiana generates annual revenue of $5.12 billion with an EBITDA of $1.83 billion, though revenue has declined by 7.3% over the last twelve months.
The mortgage bonds, listed under the trading symbol ELC on the New York Stock Exchange, are part of a long-term financing strategy for the Texas-incorporated utility company. The bonds are due in approximately 30 years, providing a long-term debt instrument for investors.
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