Entergy Arkansas is in the market with a $124.1 million deal lead managed by Morgan Stanley.
In its presale report on the offering, Fitch Ratings said that the recovery bonds are mainly backed by storm recovery property, which represents the right to collect a tariff or storm recovery charge from Entergy Arkansas' retail electric customers. Fitch rated the deal triple-A.
The deal just has one tranche with a legal final maturity of around 11 years.
Proceeds from the offering will go to the financing and repairs costs incurred in Arkansas resulting from the January 2009 ice storm, such as transaction carrying expenses and issuance costs, Fitch said.
More preliminary information on the deal is available via the link below from the ASR Scorecards database.
