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Entergy Mississippi has confirmed to the Clarion Ledger that it has successfully issued $600 million in First Mortgage Bonds as reported last week by Investing.com.
The bonds, according to the report, carry a 5.80% interest rate and are due on April 15, 2055. The company announced the closure of the bond sale recently, following an agreement reached last week. 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. The company, according to Investing.com, generated revenue of $1.76 billion in the last 12 months, though revenue growth declined by 2.1% during this period.
“Our business is complex and one that requires an equally dynamic and disciplined approach to managing our customers’ energy rates, and we do this in a variety of ways including responsible investment,” Entergy spokesperson Candace Coleman told the Clarion Ledger on Monday. “Last week we closed on a bond issuance, a mechanism that is part of our regular financial practices.”
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.
Ross Reily is a writer for the Clarion Ledger, part of the USA TODAY Network. He can be reached at rreily@gannett.com or 601-573-2952. You can follow him on the X platform, formerly known as Twitter @GreenOkra1.
