Entergy Arkansas, LLC Announces Redemption of First Mortgage Bonds, 4.90% Series due December 1, 2052, and First Mortgage Bonds, 4.75% Series due June 1, 2063
Entergy Arkansas, LLC, a subsidiary of Entergy Corporation (NYSE: ETR), announced the redemption of two series of First Mortgage Bonds totaling $325 million.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Entergy Arkansas, LLC, a subsidiary of Entergy Corporation (NYSE: ETR), announced the redemption of two series of First Mortgage Bonds totaling $325 million. On October 14, 2020, it will redeem $200 million of 4.90% Bonds maturing in 2052 and $125 million of 4.75% Bonds maturing in 2063. The redemption price for both bonds will be 100% of their principal, plus accrued interest. These bonds are listed on the NYSE under the symbols EAB and EAE. Entergy Arkansas serves approximately 715,000 customers and has annual revenues of around $11 billion.
Positive
- Redemption of $325 million in bonds enhances financial flexibility.
- No additional debt issuance implied, indicating strong cash position.
Negative
- Redemption may reduce available liquid assets temporarily.
Details
News Market Reaction – ETR
The recorded move for ETR in the trading session of this news was -0.19%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
NEW ORLEANS, Sept. 14, 2020 /PRNewswire/ -- Entergy Arkansas, LLC, a subsidiary of Entergy Corporation (NYSE: ETR), announced today that on Oct. 14, 2020 (the "Redemption Date"), it will redeem all (i)
On the Redemption Date, provided that the trustee has received sufficient funds to complete the redemption of the 2052 Bonds and the 2063 Bonds, the Redemption Price for the 2052 Bonds and the Redemption Price for the 2063 Bonds, in each case, together with accrued interest thereon to but excluding the Redemption Date, shall become due and payable, and on and after the Redemption Date, such 2052 Bonds and 2063 Bonds shall cease to bear interest. Payment of the Redemption Price for, and accrued interest on, the 2052 Bonds and 2063 Bonds will be made on or after the Redemption Date upon presentation and surrender of such bonds to DB Services Americas, Inc., MS JCK01-D218, 5022 Gate Parkway, Jacksonville, Florida 32256, Attn: Redemption Payment Unit.
About Entergy Arkansas
Entergy Arkansas, LLC provides electricity to approximately 715,000 customers in 63 counties. Entergy Arkansas is a subsidiary of Entergy Corporation (NYSE: ETR), an integrated energy company engaged primarily in electric power production and retail distribution operations. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, including 8,000 megawatts of nuclear power. Entergy delivers electricity to 2.9 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of approximately
entergy.com
facebook.com/Entergy
Twitter: @Entergy
View original content:SOURCE Entergy Corporation
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.