Entergy Arkansas to redeem $115 million 5% first mortgage bonds

By Tali Rackner

Norfolk, Va., March 10 - Entergy Arkansas, Inc. plans to use the proceeds from a first mortgage bond offering to redeem all $115 million of its 5% first mortgage bonds due July 2018, according to a 424B3 filing with the Securities and Exchange Commission.

The bonds will be redeemed at par plus accrued interest.

Proceeds will also be used to repay all borrowings under Entergy's fully drawn $250 million credit facility with Wells Fargo Bank, NA, to terminate the facility prior to its Jan. 26, 2015 expiration date and for general corporate purposes.

The electric company is based in Little Rock, Ark.

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