Monitor Entergy Texas's next quarterly filing for updated leverage ratios and interest coverage. The 5.20% coupon is a benchmark for the company's credit spread; watch for secondary market trading of the bonds (CUSIP 29365T AR5) for relative value signals.
Price Chart
Executive Summary
Entergy Texas, Inc. issued $425,000,000 in aggregate principal amount of First Mortgage Bonds, 5.20% Series due June 15, 2036, under a shelf registration statement. The sale closed on May 14, 2026. This is a routine debt capital markets transaction for a regulated utility, increasing long-term debt to fund operations or capital expenditures.
Key Facts
- Issued $425,000,000 aggregate principal amount of First Mortgage Bonds, 5.20% Series due June 15, 2036.
- Bonds were offered under existing Form S-3 shelf registration (File No. 333-289302-01).
- Underwriting agreement entered into on May 11, 2026; sale closed on May 14, 2026.
- Interest payable semi-annually on June 15 and December 15, commencing December 15, 2026.
- Bonds are redeemable at the Company's option prior to March 15, 2036 at the greater of par or Treasury rate plus 15 basis points.
Financial Impact
Debt issuance of $425,000,000 at 5.20% fixed rate, 10-year maturity. Increases total debt and interest expense.
Risk Factors
- Increased leverage from $425M new debt could pressure credit metrics if not matched by earnings growth.
- Interest rate risk: fixed 5.20% coupon is above current risk-free rates, but refinancing risk at maturity in 2036.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-223106 |
| Document: d28626d8k.htm | 0001193125-26-223106 |
| Document: d28626dex511.htm | 0001193125-26-223106 |
| Document: d28626dex510.htm | 0001193125-26-223106 |
| Document: 0001193125-26-223106-index-headers.html | 0001193125-26-223106 |
| Document: 0001193125-26-223106-index.html | 0001193125-26-223106 |
| Document: 0001193125-26-223106.txt | 0001193125-26-223106 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 5, 2026 22d ago | 8-K | $20.78 | awaiting T+20 | — | $20.84 (+0.29%) |
Jul 29, 2026 12w ago | 8-K | $23.48 $23.75 | ▲ +1.15% | ▼ −3.87% | $20.84 (−11.24%) |
May 14, 2026 23w ago | 8-K | $24.13 $24.37 | ▲ +0.99% | ▲ +1.84% | $20.84 (−13.63%) |
Apr 29, 2026 25w ago | 8-K | $24.05 $24.30 | ▲ +1.04% | ▼ −4.42% | $20.84 (−13.35%) |
US Market Status
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