Entergy Arkansas (EAI) issues two $500M first mortgage bond series

Rhea-AI Filing Summary

Entergy Arkansas, LLC completed the sale of two new series of first mortgage bonds to investors. The company issued $500,000,000 of 4.95% First Mortgage Bonds due January 15, 2036 and $500,000,000 of 5.75% First Mortgage Bonds due January 15, 2056. The bonds were sold under an automatic shelf registration statement on Form S-3 that became effective upon filing. Related legal opinions and consents from multiple law firms and in-house counsel were filed as exhibits to support the validity of the bond issuance.

Insights

Utility capital structure analyst

Entergy Arkansas adds long-dated secured debt in two $500M tranches.

Entergy Arkansas, LLC issued $500,000,000 of 4.95% First Mortgage Bonds due January 15, 2036 and $500,000,000 of 5.75% First Mortgage Bonds due January 15, 2056. These are secured obligations under the company's first mortgage indenture, which is typical for regulated utilities financing long-lived assets.

The bonds were issued off an automatic shelf registration statement on Form S-3, indicating a pre-established program for accessing capital markets. Coupon levels of 4.95% and 5.75% lock in fixed-rate funding over 10- and 30-year horizons, which can help match the long asset lives in the electric utility business.

From an investor perspective, the key considerations will be how this additional secured debt fits into overall leverage and coverage metrics, which are not detailed here, and how it interacts with regulatory frameworks that typically allow recovery of prudently incurred financing costs in future periods.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) January 8, 2026

Entergy Arkansas, LLC

(Exact name of registrant as specified in its charter)

Texas		1-10764		83-1918668
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)
425 West Capitol Avenue, Little Rock, Arkansas				72201
(Address of principal executive offices)				(Zip Code)

Registrant’s telephone number, including area code (501) 377-4000

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Class		Trading Symbol		Name of Each Exchange on Which Registered
Mortgage Bonds, 4.875% Series due September 2066		EAI		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events.

On January 5, 2026, Entergy Arkansas, LLC (the “Company”) entered into an Underwriting Agreement for the sale of $500,000,000 aggregate principal amount of its First Mortgage Bonds, 4.95% Series due January 15, 2036 (the “2036 Bonds”), and $500,000,000 aggregate principal amount of its First Mortgage Bonds, 5.75% Series due January 15, 2056 (together with the 2036 Bonds, the “Bonds”). The sale of the Bonds closed on January 8, 2026. The Bonds were registered under the Securities Act of 1933, as amended, by means of the Company’s automatic shelf Registration Statement on Form S-3 (File No. 333-289302-05) (the “Registration Statement”), which such Registration Statement became effective upon filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.		Description of Exhibit
4.66		Eighty-eighth Supplemental Indenture establishing the terms of the Bonds.
5.02		Opinion of Morgan, Lewis & Bockius LLP with respect to the Bonds.
5.03		Opinion of Dawn A. Balash, Assistant General Counsel - Corporate and Securities of Entergy Services, LLC, with respect to the Bonds.
5.04		Opinion of Friday, Eldredge & Clark, LLP with respect to the Bonds.
5.05		Opinion of Husch Blackwell LLP with respect to the Bonds.
23.11		Consent of Morgan, Lewis & Bockius LLP with respect to its Opinion relating to the Bonds (included in Exhibit 5.02).
23.12		Consent of Dawn A. Balash, Assistant General Counsel - Corporate and Securities of Entergy Services, LLC, with respect to her Opinion relating to the Bonds (included in Exhibit 5.03).
23.13		Consent of Friday, Eldredge & Clark, LLP with respect to its Opinion relating to the Bonds (included in Exhibit 5.04).
23.14		Consent of Husch Blackwell LLP with respect to its Opinion relating to the Bonds (included in Exhibit 5.05).
104		Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Entergy Arkansas, LLC

(Registrant)

Date: January 8, 2026

/s/ Barrett E. Green

(Signature)

Barrett E. Green

Vice President and Treasurer