Press Release
Press Release
Press Contacts: Erik Cummins, Matt Hyams, Taina Rosa, Olivia Meyer
11.18.25
Pillsbury advised the underwriters in connection with Entergy Corporation’s registered public offering of $1.3 billion aggregate principal amount of junior subordinated debentures. The offering comprised $600 million of Series 2025A Junior Subordinated Debentures and $700 million of Series 2025B Junior Subordinated Debentures, each due June 15, 2056.
The Series 2025A debentures will bear interest at 5.875% per annum until June 15, 2031, after which the rate will reset every five years to the Five-Year Treasury Rate plus 2.179%, with a minimum rate of 5.875%. The Series 2025B debentures will bear interest at 6.100% per annum until June 15, 2036, and will thereafter reset every five years to the Five-Year Treasury Rate plus 2.013%, with a minimum rate of 6.100%.
Barclays Capital Inc., BNP Paribas Securities Corp., Citigroup Global Markets Inc., Scotia Capital (USA) Inc., Wells Fargo Securities, LLC, J.P. Morgan Securities LLC, Mizuho Securities USA LLC and MUFG Securities Americas Inc. acted as underwriters in connection with the offering.
The Pillsbury deal team was led by Corporate partner Lexi Calcado and included Tax partner Harsha Reddy and Corporate associate Natalie Alexander, with support from senior law clerk Nicholas Williams.