Entergy Louisiana, Gulf States may redeem outstanding preferreds

By Susanna Moon

Chicago, Sept. 30 – Entergy Louisiana LLC and Entergy Gulf States Louisiana, LLC may redeem or repurchase all of their respective outstanding preferred membership interests, according to an 8-K filing with the Securities and Exchange Commission.

The preferred interests have a $100 million liquidation value for Entergy Louisiana and $10 million for Entergy Gulf States Louisiana.

Redemption of the preferreds would take place as part of a proposed merger of the two companies into a single public utility.

The combination is anticipated to close in the second half of 2015, subject to approval from various regulators.

Entergy Louisiana is a Jefferson, La.-based energy provider. Entergy Gulf States Louisiana is an electric power subsidiary of Entergy Corp. is based in Baton Rouge, La.

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