Entergy Pulls In $90 Million Ahead of Hurricane Season
Entergy New Orleans raised $90 million by selling long-term first mortgage bonds to institutional buyers, according to a May 27 SEC filing. The utility secured the financing days after its annual Metro Storm Drill, as hurricane season approaches. The bonds mature in 2036 and 2056, with interest paid twice a year. NOAA forecasts a less-active Atlantic hurricane season but warns destructive storms remain possible.