Entergy Louisiana closes $3.194B storm securitization, issues bonds to finance storm costs

ENTERGY LOUISIANA, LLC

$3,193,505,000 principal amount of bonds issued by Louisiana Local Government Environmental Facilities and Community Development Authority on May 19, 2022.
Net proceeds used to purchase preferred membership interests in Entergy Finance, LLC, with a stated annual dividend rate of 7%.
Annual dividends: 99% distributed to Entergy Louisiana, LLC, and 1% to Louisiana Utilities Restoration Corporation, after trust expenses.
Securitization recovers costs from Hurricanes Laura, Delta, Zeta, Winter Storm Uri, and Hurricane Ida, approved by LPSC in March 2022.

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