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Entergy (NYSE:ETR) Mississippi, LLC, an electric services provider, has successfully issued $600 million in First Mortgage Bonds, which carry a 5.80% interest rate and are due on April 15, 2055. The company announced the closure of the bond sale today, following an agreement reached on Monday. According to InvestingPro data, this issuance adds to the company’s existing total debt of $2.48 billion as of the latest quarter.
The bonds, sold to underwriters, are part of the company’s larger financial strategy, underpinned by a previously effective registration statement. Entergy Mississippi, a Texas-incorporated entity, is listed on the New York Stock Exchange under the symbol EMP, where its mortgage bonds are also traded. The company generated revenue of $1.76 billion in the last twelve months, with an EBITDA of $702.43 million, though revenue growth declined by 2.1% during this period.
Legal opinions regarding the issuance were provided by Morgan, Lewis (JO:LEWJ) & Bockius LLP and Husch Blackwell LLP, as documented in the exhibits attached to the 8-K filing.
The capital raised through this bond issuance could be utilized for a range of corporate purposes, including infrastructure investments, debt refinancing, or other business activities. However, the specific use of the proceeds from the bond sale was not detailed in the filing.
This financial move by Entergy Mississippi, LLC is based on a press release statement and reflects the company’s efforts to secure long-term capital. As with any corporate bond issuance, investors typically consider the interest rate offered, the company’s creditworthiness, and the overall market conditions when evaluating the bonds’ potential as an investment. For deeper insights into EMP’s financial health and detailed analysis, including exclusive ProTips and Fair Value estimates, check out InvestingPro.
The information reported here is a straightforward account of Entergy Mississippi’s recent financial activity, with no endorsement of the company’s market position or future prospects implied.
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