XML 103 R13.htm IDEA: XBRL DOCUMENT v2.4.0.8
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings
9 Months Ended
Sep. 30, 2013
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt

NOTE 4. REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

 

            Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in March 2018.  Entergy Corporation also has the ability to issue letters of credit against 50% of the total borrowing capacity of the credit facility.  The commitment fee is currently 0.275% of the undrawn commitment amount.  Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation.  The weighted average interest rate for the nine months ended September 30, 2013 was 1.96% on the drawn portion of the facility.  Following is a summary of the borrowings outstanding and capacity available under the facility as of September 30, 2013.

 

Capacity (a)
 
Borrowings
 
Letters
of Credit
 
Capacity
Available
(In Millions)
             
$3,500 
 
$150
 
$8
 
$3,342

(a)

The capacity decreases to $3,490 million in March 2017.

Entergy Corporation's facility requires it to maintain a consolidated debt ratio of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Utility operating companies (except Entergy New Orleans) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the facility maturity date may occur.

 

            Entergy Corporation has a commercial paper program with a program limit of up to $1.5 billion.  As of September 30, 2013, Entergy Corporation had approximately $1,016 million of commercial paper outstanding.  The weighted-average interest rate for the nine months ended September 30, 2013 was 0.83%.

 

Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2013 as follows:

 


The commitment fees on the credit facilities range from 0.125% to 0.275% of the undrawn commitment amount.

 

The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits are effective through October 31, 2015. In addition to borrowings from commercial banks, these companies are authorized under a FERC order to borrow from the Entergy System money pool. The money pool is an inter-company borrowing arrangement designed to reduce the Utility subsidiaries' dependence on external short-term borrowings. Borrowings from the money pool and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2013 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries:


 

The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of September 30, 2013 as follows:

 

Company

 

Description

 

Amount

 

 

 

 

 

Entergy Arkansas VIE

 

5.69% Series I due July 2014

 

$70 million

Entergy Arkansas VIE

 

3.23% Series J due July 2016

 

$55 million

Entergy Arkansas VIE

 

2.62% Series K due December 2017

 

$60 million

Entergy Gulf States Louisiana VIE

 

3.25% Series Q due July 2017

 

$75 million

Entergy Gulf States Louisiana VIE

 

3.38% Series R due August 2020

 

$70 million

Entergy Louisiana VIE

 

5.69% Series E due July 2014

 

$50 million

Entergy Louisiana VIE

 

3.30% Series F due March 2016

 

$20 million

Entergy Louisiana VIE

 

3.25% Series G due July 2017

 

$25 million

System Energy VIE

 

5.33% Series G due April 2015

 

$60 million

System Energy VIE

 

4.02% Series H due February 2017

 

$50 million

 

In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities' credit facilities, commercial paper, and long-term notes payable is reported in fuel expense.

 

Debt Issuances and Redemptions

 

(Entergy Arkansas)

 

            In January 2013, Entergy Arkansas arranged for the issuance by (i) Independence County, Arkansas of $45 million of 2.375% Pollution Control Revenue Refinancing Bonds (Entergy Arkansas, Inc. Project) Series 2013 due January 2021, and (ii) Jefferson County, Arkansas of $54.7 million of 1.55% Pollution Control Revenue Refunding Bonds (Entergy Arkansas, Inc. Project) Series 2013 due October 2017, each of which series is secured by a separate series of non-interest bearing first mortgage bonds of Entergy Arkansas.  The proceeds of these issuances were applied to the refunding of outstanding series of pollution control revenue bonds previously issued by the respective issuers.

 

            In May 2013, Entergy Arkansas issued $250 million of 3.05% Series first mortgage bonds due June 2023. Entergy Arkansas used the proceeds to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes.

 

            In June 2013, Entergy Arkansas issued $125 million of 4.75% Series first mortgage bonds due June 2063. Entergy Arkansas used the proceeds to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes.

 

            In June 2013 the Entergy Arkansas nuclear fuel company variable interest entity redeemed, at maturity, its $30 million 9% Series H notes.

 

            In July 2013, Entergy Arkansas entered into a $250 million term loan credit facility terminating January 26, 2015 with the collateral support of a series of $255 million non-interest bearing Entergy Arkansas first mortgage bonds.  On July 31, 2013, Entergy Arkansas borrowed $250 million against the credit facility.  Entergy Arkansas used the borrowings to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes.

 

(Entergy Gulf States Louisiana)

 

            In February 2013 the Entergy Gulf States Louisiana nuclear fuel company variable interest entity issued $70 million of 3.38% Series R notes due August 2020.  The Entergy Gulf States Louisiana nuclear fuel company variable interest entity used the proceeds primarily to purchase additional nuclear fuel.

        

In May 2013 the Entergy Gulf States Louisiana nuclear fuel company variable interest entity redeemed, at maturity, its $75 million 5.56% Series N notes.

           

(Entergy Louisiana)

           

            In May 2013, Entergy Louisiana issued $100 million of 4.70% Series first mortgage bonds due June 2063. Entergy Louisiana used the proceeds for general corporate purposes.

 

            In August 2013, Entergy Louisiana issued $325 million of 4.05% Series first mortgage bonds due September 2023.  Entergy Louisiana used the proceeds to repay borrowings under its $200 million credit facility and for general corporate purposes.

 

(Entergy Mississippi)

 

            In February 2013, Entergy Mississippi redeemed, at maturity, its $100 million 5.15% Series first mortgage bonds.

 

            In October 2013, Entergy Mississippi redeemed, prior to maturity, its $16.03 million 4.60% Series pollution control revenue bonds due April 2022.

 

(Entergy New Orleans)

 

            In June 2013, Entergy New Orleans issued $100 million of 3.90% Series first mortgage bonds due July 2023.  Entergy New Orleans used the proceeds to pay, at maturity, its $70 million 5.25% Series first mortgage bonds due August 2013 and for general corporate purposes.

Entergy Arkansas [Member]
 
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt

NOTE 4. REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

 

            Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in March 2018.  Entergy Corporation also has the ability to issue letters of credit against 50% of the total borrowing capacity of the credit facility.  The commitment fee is currently 0.275% of the undrawn commitment amount.  Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation.  The weighted average interest rate for the nine months ended September 30, 2013 was 1.96% on the drawn portion of the facility.  Following is a summary of the borrowings outstanding and capacity available under the facility as of September 30, 2013.

 

Capacity (a)
 
Borrowings
 
Letters
of Credit
 
Capacity
Available
(In Millions)
             
$3,500 
 
$150
 
$8
 
$3,342

(a)

The capacity decreases to $3,490 million in March 2017.

Entergy Corporation's facility requires it to maintain a consolidated debt ratio of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Utility operating companies (except Entergy New Orleans) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the facility maturity date may occur.

 

            Entergy Corporation has a commercial paper program with a program limit of up to $1.5 billion.  As of September 30, 2013, Entergy Corporation had approximately $1,016 million of commercial paper outstanding.  The weighted-average interest rate for the nine months ended September 30, 2013 was 0.83%.

 

Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2013 as follows:

 


The commitment fees on the credit facilities range from 0.125% to 0.275% of the undrawn commitment amount.

 

The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits are effective through October 31, 2015. In addition to borrowings from commercial banks, these companies are authorized under a FERC order to borrow from the Entergy System money pool. The money pool is an inter-company borrowing arrangement designed to reduce the Utility subsidiaries' dependence on external short-term borrowings. Borrowings from the money pool and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2013 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries:


 

The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of September 30, 2013 as follows:

 

Company

 

Description

 

Amount

 

 

 

 

 

Entergy Arkansas VIE

 

5.69% Series I due July 2014

 

$70 million

Entergy Arkansas VIE

 

3.23% Series J due July 2016

 

$55 million

Entergy Arkansas VIE

 

2.62% Series K due December 2017

 

$60 million

Entergy Gulf States Louisiana VIE

 

3.25% Series Q due July 2017

 

$75 million

Entergy Gulf States Louisiana VIE

 

3.38% Series R due August 2020

 

$70 million

Entergy Louisiana VIE

 

5.69% Series E due July 2014

 

$50 million

Entergy Louisiana VIE

 

3.30% Series F due March 2016

 

$20 million

Entergy Louisiana VIE

 

3.25% Series G due July 2017

 

$25 million

System Energy VIE

 

5.33% Series G due April 2015

 

$60 million

System Energy VIE

 

4.02% Series H due February 2017

 

$50 million

 

In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities' credit facilities, commercial paper, and long-term notes payable is reported in fuel expense.

 

Debt Issuances and Redemptions

 

(Entergy Arkansas)

 

            In January 2013, Entergy Arkansas arranged for the issuance by (i) Independence County, Arkansas of $45 million of 2.375% Pollution Control Revenue Refinancing Bonds (Entergy Arkansas, Inc. Project) Series 2013 due January 2021, and (ii) Jefferson County, Arkansas of $54.7 million of 1.55% Pollution Control Revenue Refunding Bonds (Entergy Arkansas, Inc. Project) Series 2013 due October 2017, each of which series is secured by a separate series of non-interest bearing first mortgage bonds of Entergy Arkansas.  The proceeds of these issuances were applied to the refunding of outstanding series of pollution control revenue bonds previously issued by the respective issuers.

 

            In May 2013, Entergy Arkansas issued $250 million of 3.05% Series first mortgage bonds due June 2023. Entergy Arkansas used the proceeds to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes.

 

            In June 2013, Entergy Arkansas issued $125 million of 4.75% Series first mortgage bonds due June 2063. Entergy Arkansas used the proceeds to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes.

 

            In June 2013 the Entergy Arkansas nuclear fuel company variable interest entity redeemed, at maturity, its $30 million 9% Series H notes.

 

            In July 2013, Entergy Arkansas entered into a $250 million term loan credit facility terminating January 26, 2015 with the collateral support of a series of $255 million non-interest bearing Entergy Arkansas first mortgage bonds.  On July 31, 2013, Entergy Arkansas borrowed $250 million against the credit facility.  Entergy Arkansas used the borrowings to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes.

 

(Entergy Gulf States Louisiana)

 

            In February 2013 the Entergy Gulf States Louisiana nuclear fuel company variable interest entity issued $70 million of 3.38% Series R notes due August 2020.  The Entergy Gulf States Louisiana nuclear fuel company variable interest entity used the proceeds primarily to purchase additional nuclear fuel.

        

In May 2013 the Entergy Gulf States Louisiana nuclear fuel company variable interest entity redeemed, at maturity, its $75 million 5.56% Series N notes.

           

(Entergy Louisiana)

           

            In May 2013, Entergy Louisiana issued $100 million of 4.70% Series first mortgage bonds due June 2063. Entergy Louisiana used the proceeds for general corporate purposes.

 

            In August 2013, Entergy Louisiana issued $325 million of 4.05% Series first mortgage bonds due September 2023.  Entergy Louisiana used the proceeds to repay borrowings under its $200 million credit facility and for general corporate purposes.

 

(Entergy Mississippi)

 

            In February 2013, Entergy Mississippi redeemed, at maturity, its $100 million 5.15% Series first mortgage bonds.

 

            In October 2013, Entergy Mississippi redeemed, prior to maturity, its $16.03 million 4.60% Series pollution control revenue bonds due April 2022.

 

(Entergy New Orleans)

 

            In June 2013, Entergy New Orleans issued $100 million of 3.90% Series first mortgage bonds due July 2023.  Entergy New Orleans used the proceeds to pay, at maturity, its $70 million 5.25% Series first mortgage bonds due August 2013 and for general corporate purposes.

Entergy Gulf States Louisiana [Member]
 
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt

NOTE 4. REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

 

            Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in March 2018.  Entergy Corporation also has the ability to issue letters of credit against 50% of the total borrowing capacity of the credit facility.  The commitment fee is currently 0.275% of the undrawn commitment amount.  Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation.  The weighted average interest rate for the nine months ended September 30, 2013 was 1.96% on the drawn portion of the facility.  Following is a summary of the borrowings outstanding and capacity available under the facility as of September 30, 2013.

 

Capacity (a)
 
Borrowings
 
Letters
of Credit
 
Capacity
Available
(In Millions)
             
$3,500 
 
$150
 
$8
 
$3,342

(a)

The capacity decreases to $3,490 million in March 2017.

Entergy Corporation's facility requires it to maintain a consolidated debt ratio of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Utility operating companies (except Entergy New Orleans) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the facility maturity date may occur.

 

            Entergy Corporation has a commercial paper program with a program limit of up to $1.5 billion.  As of September 30, 2013, Entergy Corporation had approximately $1,016 million of commercial paper outstanding.  The weighted-average interest rate for the nine months ended September 30, 2013 was 0.83%.

 

Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2013 as follows:

 


The commitment fees on the credit facilities range from 0.125% to 0.275% of the undrawn commitment amount.

 

The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits are effective through October 31, 2015. In addition to borrowings from commercial banks, these companies are authorized under a FERC order to borrow from the Entergy System money pool. The money pool is an inter-company borrowing arrangement designed to reduce the Utility subsidiaries' dependence on external short-term borrowings. Borrowings from the money pool and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2013 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries:


 

The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of September 30, 2013 as follows:

 

Company

 

Description

 

Amount

 

 

 

 

 

Entergy Arkansas VIE

 

5.69% Series I due July 2014

 

$70 million

Entergy Arkansas VIE

 

3.23% Series J due July 2016

 

$55 million

Entergy Arkansas VIE

 

2.62% Series K due December 2017

 

$60 million

Entergy Gulf States Louisiana VIE

 

3.25% Series Q due July 2017

 

$75 million

Entergy Gulf States Louisiana VIE

 

3.38% Series R due August 2020

 

$70 million

Entergy Louisiana VIE

 

5.69% Series E due July 2014

 

$50 million

Entergy Louisiana VIE

 

3.30% Series F due March 2016

 

$20 million

Entergy Louisiana VIE

 

3.25% Series G due July 2017

 

$25 million

System Energy VIE

 

5.33% Series G due April 2015

 

$60 million

System Energy VIE

 

4.02% Series H due February 2017

 

$50 million

 

In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities' credit facilities, commercial paper, and long-term notes payable is reported in fuel expense.

 

Debt Issuances and Redemptions

 

(Entergy Arkansas)

 

            In January 2013, Entergy Arkansas arranged for the issuance by (i) Independence County, Arkansas of $45 million of 2.375% Pollution Control Revenue Refinancing Bonds (Entergy Arkansas, Inc. Project) Series 2013 due January 2021, and (ii) Jefferson County, Arkansas of $54.7 million of 1.55% Pollution Control Revenue Refunding Bonds (Entergy Arkansas, Inc. Project) Series 2013 due October 2017, each of which series is secured by a separate series of non-interest bearing first mortgage bonds of Entergy Arkansas.  The proceeds of these issuances were applied to the refunding of outstanding series of pollution control revenue bonds previously issued by the respective issuers.

 

            In May 2013, Entergy Arkansas issued $250 million of 3.05% Series first mortgage bonds due June 2023. Entergy Arkansas used the proceeds to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes.

 

            In June 2013, Entergy Arkansas issued $125 million of 4.75% Series first mortgage bonds due June 2063. Entergy Arkansas used the proceeds to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes.

 

            In June 2013 the Entergy Arkansas nuclear fuel company variable interest entity redeemed, at maturity, its $30 million 9% Series H notes.

 

            In July 2013, Entergy Arkansas entered into a $250 million term loan credit facility terminating January 26, 2015 with the collateral support of a series of $255 million non-interest bearing Entergy Arkansas first mortgage bonds.  On July 31, 2013, Entergy Arkansas borrowed $250 million against the credit facility.  Entergy Arkansas used the borrowings to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes.

 

(Entergy Gulf States Louisiana)

 

            In February 2013 the Entergy Gulf States Louisiana nuclear fuel company variable interest entity issued $70 million of 3.38% Series R notes due August 2020.  The Entergy Gulf States Louisiana nuclear fuel company variable interest entity used the proceeds primarily to purchase additional nuclear fuel.

        

In May 2013 the Entergy Gulf States Louisiana nuclear fuel company variable interest entity redeemed, at maturity, its $75 million 5.56% Series N notes.

           

(Entergy Louisiana)

           

            In May 2013, Entergy Louisiana issued $100 million of 4.70% Series first mortgage bonds due June 2063. Entergy Louisiana used the proceeds for general corporate purposes.

 

            In August 2013, Entergy Louisiana issued $325 million of 4.05% Series first mortgage bonds due September 2023.  Entergy Louisiana used the proceeds to repay borrowings under its $200 million credit facility and for general corporate purposes.

 

(Entergy Mississippi)

 

            In February 2013, Entergy Mississippi redeemed, at maturity, its $100 million 5.15% Series first mortgage bonds.

 

            In October 2013, Entergy Mississippi redeemed, prior to maturity, its $16.03 million 4.60% Series pollution control revenue bonds due April 2022.

 

(Entergy New Orleans)

 

            In June 2013, Entergy New Orleans issued $100 million of 3.90% Series first mortgage bonds due July 2023.  Entergy New Orleans used the proceeds to pay, at maturity, its $70 million 5.25% Series first mortgage bonds due August 2013 and for general corporate purposes.

Entergy Louisiana [Member]
 
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt

NOTE 4. REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

 

            Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in March 2018.  Entergy Corporation also has the ability to issue letters of credit against 50% of the total borrowing capacity of the credit facility.  The commitment fee is currently 0.275% of the undrawn commitment amount.  Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation.  The weighted average interest rate for the nine months ended September 30, 2013 was 1.96% on the drawn portion of the facility.  Following is a summary of the borrowings outstanding and capacity available under the facility as of September 30, 2013.

 

Capacity (a)
 
Borrowings
 
Letters
of Credit
 
Capacity
Available
(In Millions)
             
$3,500 
 
$150
 
$8
 
$3,342

(a)

The capacity decreases to $3,490 million in March 2017.

Entergy Corporation's facility requires it to maintain a consolidated debt ratio of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Utility operating companies (except Entergy New Orleans) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the facility maturity date may occur.

 

            Entergy Corporation has a commercial paper program with a program limit of up to $1.5 billion.  As of September 30, 2013, Entergy Corporation had approximately $1,016 million of commercial paper outstanding.  The weighted-average interest rate for the nine months ended September 30, 2013 was 0.83%.

 

Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2013 as follows:

 


The commitment fees on the credit facilities range from 0.125% to 0.275% of the undrawn commitment amount.

 

The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits are effective through October 31, 2015. In addition to borrowings from commercial banks, these companies are authorized under a FERC order to borrow from the Entergy System money pool. The money pool is an inter-company borrowing arrangement designed to reduce the Utility subsidiaries' dependence on external short-term borrowings. Borrowings from the money pool and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2013 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries:


 

The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of September 30, 2013 as follows:

 

Company

 

Description

 

Amount

 

 

 

 

 

Entergy Arkansas VIE

 

5.69% Series I due July 2014

 

$70 million

Entergy Arkansas VIE

 

3.23% Series J due July 2016

 

$55 million

Entergy Arkansas VIE

 

2.62% Series K due December 2017

 

$60 million

Entergy Gulf States Louisiana VIE

 

3.25% Series Q due July 2017

 

$75 million

Entergy Gulf States Louisiana VIE

 

3.38% Series R due August 2020

 

$70 million

Entergy Louisiana VIE

 

5.69% Series E due July 2014

 

$50 million

Entergy Louisiana VIE

 

3.30% Series F due March 2016

 

$20 million

Entergy Louisiana VIE

 

3.25% Series G due July 2017

 

$25 million

System Energy VIE

 

5.33% Series G due April 2015

 

$60 million

System Energy VIE

 

4.02% Series H due February 2017

 

$50 million

 

In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities' credit facilities, commercial paper, and long-term notes payable is reported in fuel expense.

 

Debt Issuances and Redemptions

 

(Entergy Arkansas)

 

            In January 2013, Entergy Arkansas arranged for the issuance by (i) Independence County, Arkansas of $45 million of 2.375% Pollution Control Revenue Refinancing Bonds (Entergy Arkansas, Inc. Project) Series 2013 due January 2021, and (ii) Jefferson County, Arkansas of $54.7 million of 1.55% Pollution Control Revenue Refunding Bonds (Entergy Arkansas, Inc. Project) Series 2013 due October 2017, each of which series is secured by a separate series of non-interest bearing first mortgage bonds of Entergy Arkansas.  The proceeds of these issuances were applied to the refunding of outstanding series of pollution control revenue bonds previously issued by the respective issuers.

 

            In May 2013, Entergy Arkansas issued $250 million of 3.05% Series first mortgage bonds due June 2023. Entergy Arkansas used the proceeds to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes.

 

            In June 2013, Entergy Arkansas issued $125 million of 4.75% Series first mortgage bonds due June 2063. Entergy Arkansas used the proceeds to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes.

 

            In June 2013 the Entergy Arkansas nuclear fuel company variable interest entity redeemed, at maturity, its $30 million 9% Series H notes.

 

            In July 2013, Entergy Arkansas entered into a $250 million term loan credit facility terminating January 26, 2015 with the collateral support of a series of $255 million non-interest bearing Entergy Arkansas first mortgage bonds.  On July 31, 2013, Entergy Arkansas borrowed $250 million against the credit facility.  Entergy Arkansas used the borrowings to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes.

 

(Entergy Gulf States Louisiana)

 

            In February 2013 the Entergy Gulf States Louisiana nuclear fuel company variable interest entity issued $70 million of 3.38% Series R notes due August 2020.  The Entergy Gulf States Louisiana nuclear fuel company variable interest entity used the proceeds primarily to purchase additional nuclear fuel.

        

In May 2013 the Entergy Gulf States Louisiana nuclear fuel company variable interest entity redeemed, at maturity, its $75 million 5.56% Series N notes.

           

(Entergy Louisiana)

           

            In May 2013, Entergy Louisiana issued $100 million of 4.70% Series first mortgage bonds due June 2063. Entergy Louisiana used the proceeds for general corporate purposes.

 

            In August 2013, Entergy Louisiana issued $325 million of 4.05% Series first mortgage bonds due September 2023.  Entergy Louisiana used the proceeds to repay borrowings under its $200 million credit facility and for general corporate purposes.

 

(Entergy Mississippi)

 

            In February 2013, Entergy Mississippi redeemed, at maturity, its $100 million 5.15% Series first mortgage bonds.

 

            In October 2013, Entergy Mississippi redeemed, prior to maturity, its $16.03 million 4.60% Series pollution control revenue bonds due April 2022.

 

(Entergy New Orleans)

 

            In June 2013, Entergy New Orleans issued $100 million of 3.90% Series first mortgage bonds due July 2023.  Entergy New Orleans used the proceeds to pay, at maturity, its $70 million 5.25% Series first mortgage bonds due August 2013 and for general corporate purposes.

Entergy Mississippi [Member]
 
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt

NOTE 4. REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

 

            Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in March 2018.  Entergy Corporation also has the ability to issue letters of credit against 50% of the total borrowing capacity of the credit facility.  The commitment fee is currently 0.275% of the undrawn commitment amount.  Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation.  The weighted average interest rate for the nine months ended September 30, 2013 was 1.96% on the drawn portion of the facility.  Following is a summary of the borrowings outstanding and capacity available under the facility as of September 30, 2013.

 

Capacity (a)
 
Borrowings
 
Letters
of Credit
 
Capacity
Available
(In Millions)
             
$3,500 
 
$150
 
$8
 
$3,342

(a)

The capacity decreases to $3,490 million in March 2017.

Entergy Corporation's facility requires it to maintain a consolidated debt ratio of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Utility operating companies (except Entergy New Orleans) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the facility maturity date may occur.

 

            Entergy Corporation has a commercial paper program with a program limit of up to $1.5 billion.  As of September 30, 2013, Entergy Corporation had approximately $1,016 million of commercial paper outstanding.  The weighted-average interest rate for the nine months ended September 30, 2013 was 0.83%.

 

Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2013 as follows:

 


The commitment fees on the credit facilities range from 0.125% to 0.275% of the undrawn commitment amount.

 

The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits are effective through October 31, 2015. In addition to borrowings from commercial banks, these companies are authorized under a FERC order to borrow from the Entergy System money pool. The money pool is an inter-company borrowing arrangement designed to reduce the Utility subsidiaries' dependence on external short-term borrowings. Borrowings from the money pool and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2013 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries:


 

The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of September 30, 2013 as follows:

 

Company

 

Description

 

Amount

 

 

 

 

 

Entergy Arkansas VIE

 

5.69% Series I due July 2014

 

$70 million

Entergy Arkansas VIE

 

3.23% Series J due July 2016

 

$55 million

Entergy Arkansas VIE

 

2.62% Series K due December 2017

 

$60 million

Entergy Gulf States Louisiana VIE

 

3.25% Series Q due July 2017

 

$75 million

Entergy Gulf States Louisiana VIE

 

3.38% Series R due August 2020

 

$70 million

Entergy Louisiana VIE

 

5.69% Series E due July 2014

 

$50 million

Entergy Louisiana VIE

 

3.30% Series F due March 2016

 

$20 million

Entergy Louisiana VIE

 

3.25% Series G due July 2017

 

$25 million

System Energy VIE

 

5.33% Series G due April 2015

 

$60 million

System Energy VIE

 

4.02% Series H due February 2017

 

$50 million

 

In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities' credit facilities, commercial paper, and long-term notes payable is reported in fuel expense.

 

Debt Issuances and Redemptions

 

(Entergy Arkansas)

 

            In January 2013, Entergy Arkansas arranged for the issuance by (i) Independence County, Arkansas of $45 million of 2.375% Pollution Control Revenue Refinancing Bonds (Entergy Arkansas, Inc. Project) Series 2013 due January 2021, and (ii) Jefferson County, Arkansas of $54.7 million of 1.55% Pollution Control Revenue Refunding Bonds (Entergy Arkansas, Inc. Project) Series 2013 due October 2017, each of which series is secured by a separate series of non-interest bearing first mortgage bonds of Entergy Arkansas.  The proceeds of these issuances were applied to the refunding of outstanding series of pollution control revenue bonds previously issued by the respective issuers.

 

            In May 2013, Entergy Arkansas issued $250 million of 3.05% Series first mortgage bonds due June 2023. Entergy Arkansas used the proceeds to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes.

 

            In June 2013, Entergy Arkansas issued $125 million of 4.75% Series first mortgage bonds due June 2063. Entergy Arkansas used the proceeds to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes.

 

            In June 2013 the Entergy Arkansas nuclear fuel company variable interest entity redeemed, at maturity, its $30 million 9% Series H notes.

 

            In July 2013, Entergy Arkansas entered into a $250 million term loan credit facility terminating January 26, 2015 with the collateral support of a series of $255 million non-interest bearing Entergy Arkansas first mortgage bonds.  On July 31, 2013, Entergy Arkansas borrowed $250 million against the credit facility.  Entergy Arkansas used the borrowings to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes.

 

(Entergy Gulf States Louisiana)

 

            In February 2013 the Entergy Gulf States Louisiana nuclear fuel company variable interest entity issued $70 million of 3.38% Series R notes due August 2020.  The Entergy Gulf States Louisiana nuclear fuel company variable interest entity used the proceeds primarily to purchase additional nuclear fuel.

        

In May 2013 the Entergy Gulf States Louisiana nuclear fuel company variable interest entity redeemed, at maturity, its $75 million 5.56% Series N notes.

           

(Entergy Louisiana)

           

            In May 2013, Entergy Louisiana issued $100 million of 4.70% Series first mortgage bonds due June 2063. Entergy Louisiana used the proceeds for general corporate purposes.

 

            In August 2013, Entergy Louisiana issued $325 million of 4.05% Series first mortgage bonds due September 2023.  Entergy Louisiana used the proceeds to repay borrowings under its $200 million credit facility and for general corporate purposes.

 

(Entergy Mississippi)

 

            In February 2013, Entergy Mississippi redeemed, at maturity, its $100 million 5.15% Series first mortgage bonds.

 

            In October 2013, Entergy Mississippi redeemed, prior to maturity, its $16.03 million 4.60% Series pollution control revenue bonds due April 2022.

 

(Entergy New Orleans)

 

            In June 2013, Entergy New Orleans issued $100 million of 3.90% Series first mortgage bonds due July 2023.  Entergy New Orleans used the proceeds to pay, at maturity, its $70 million 5.25% Series first mortgage bonds due August 2013 and for general corporate purposes.

Entergy New Orleans
 
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt

NOTE 4. REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

 

            Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in March 2018.  Entergy Corporation also has the ability to issue letters of credit against 50% of the total borrowing capacity of the credit facility.  The commitment fee is currently 0.275% of the undrawn commitment amount.  Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation.  The weighted average interest rate for the nine months ended September 30, 2013 was 1.96% on the drawn portion of the facility.  Following is a summary of the borrowings outstanding and capacity available under the facility as of September 30, 2013.

 

Capacity (a)
 
Borrowings
 
Letters
of Credit
 
Capacity
Available
(In Millions)
             
$3,500 
 
$150
 
$8
 
$3,342

(a)

The capacity decreases to $3,490 million in March 2017.

Entergy Corporation's facility requires it to maintain a consolidated debt ratio of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Utility operating companies (except Entergy New Orleans) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the facility maturity date may occur.

 

            Entergy Corporation has a commercial paper program with a program limit of up to $1.5 billion.  As of September 30, 2013, Entergy Corporation had approximately $1,016 million of commercial paper outstanding.  The weighted-average interest rate for the nine months ended September 30, 2013 was 0.83%.

 

Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2013 as follows:

 


The commitment fees on the credit facilities range from 0.125% to 0.275% of the undrawn commitment amount.

 

The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits are effective through October 31, 2015. In addition to borrowings from commercial banks, these companies are authorized under a FERC order to borrow from the Entergy System money pool. The money pool is an inter-company borrowing arrangement designed to reduce the Utility subsidiaries' dependence on external short-term borrowings. Borrowings from the money pool and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2013 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries:


 

The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of September 30, 2013 as follows:

 

Company

 

Description

 

Amount

 

 

 

 

 

Entergy Arkansas VIE

 

5.69% Series I due July 2014

 

$70 million

Entergy Arkansas VIE

 

3.23% Series J due July 2016

 

$55 million

Entergy Arkansas VIE

 

2.62% Series K due December 2017

 

$60 million

Entergy Gulf States Louisiana VIE

 

3.25% Series Q due July 2017

 

$75 million

Entergy Gulf States Louisiana VIE

 

3.38% Series R due August 2020

 

$70 million

Entergy Louisiana VIE

 

5.69% Series E due July 2014

 

$50 million

Entergy Louisiana VIE

 

3.30% Series F due March 2016

 

$20 million

Entergy Louisiana VIE

 

3.25% Series G due July 2017

 

$25 million

System Energy VIE

 

5.33% Series G due April 2015

 

$60 million

System Energy VIE

 

4.02% Series H due February 2017

 

$50 million

 

In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities' credit facilities, commercial paper, and long-term notes payable is reported in fuel expense.

 

Debt Issuances and Redemptions

 

(Entergy Arkansas)

 

            In January 2013, Entergy Arkansas arranged for the issuance by (i) Independence County, Arkansas of $45 million of 2.375% Pollution Control Revenue Refinancing Bonds (Entergy Arkansas, Inc. Project) Series 2013 due January 2021, and (ii) Jefferson County, Arkansas of $54.7 million of 1.55% Pollution Control Revenue Refunding Bonds (Entergy Arkansas, Inc. Project) Series 2013 due October 2017, each of which series is secured by a separate series of non-interest bearing first mortgage bonds of Entergy Arkansas.  The proceeds of these issuances were applied to the refunding of outstanding series of pollution control revenue bonds previously issued by the respective issuers.

 

            In May 2013, Entergy Arkansas issued $250 million of 3.05% Series first mortgage bonds due June 2023. Entergy Arkansas used the proceeds to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes.

 

            In June 2013, Entergy Arkansas issued $125 million of 4.75% Series first mortgage bonds due June 2063. Entergy Arkansas used the proceeds to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes.

 

            In June 2013 the Entergy Arkansas nuclear fuel company variable interest entity redeemed, at maturity, its $30 million 9% Series H notes.

 

            In July 2013, Entergy Arkansas entered into a $250 million term loan credit facility terminating January 26, 2015 with the collateral support of a series of $255 million non-interest bearing Entergy Arkansas first mortgage bonds.  On July 31, 2013, Entergy Arkansas borrowed $250 million against the credit facility.  Entergy Arkansas used the borrowings to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes.

 

(Entergy Gulf States Louisiana)

 

            In February 2013 the Entergy Gulf States Louisiana nuclear fuel company variable interest entity issued $70 million of 3.38% Series R notes due August 2020.  The Entergy Gulf States Louisiana nuclear fuel company variable interest entity used the proceeds primarily to purchase additional nuclear fuel.

        

In May 2013 the Entergy Gulf States Louisiana nuclear fuel company variable interest entity redeemed, at maturity, its $75 million 5.56% Series N notes.

           

(Entergy Louisiana)

           

            In May 2013, Entergy Louisiana issued $100 million of 4.70% Series first mortgage bonds due June 2063. Entergy Louisiana used the proceeds for general corporate purposes.

 

            In August 2013, Entergy Louisiana issued $325 million of 4.05% Series first mortgage bonds due September 2023.  Entergy Louisiana used the proceeds to repay borrowings under its $200 million credit facility and for general corporate purposes.

 

(Entergy Mississippi)

 

            In February 2013, Entergy Mississippi redeemed, at maturity, its $100 million 5.15% Series first mortgage bonds.

 

            In October 2013, Entergy Mississippi redeemed, prior to maturity, its $16.03 million 4.60% Series pollution control revenue bonds due April 2022.

 

(Entergy New Orleans)

 

            In June 2013, Entergy New Orleans issued $100 million of 3.90% Series first mortgage bonds due July 2023.  Entergy New Orleans used the proceeds to pay, at maturity, its $70 million 5.25% Series first mortgage bonds due August 2013 and for general corporate purposes.

Entergy Texas [Member]
 
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt

NOTE 4. REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

 

            Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in March 2018.  Entergy Corporation also has the ability to issue letters of credit against 50% of the total borrowing capacity of the credit facility.  The commitment fee is currently 0.275% of the undrawn commitment amount.  Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation.  The weighted average interest rate for the nine months ended September 30, 2013 was 1.96% on the drawn portion of the facility.  Following is a summary of the borrowings outstanding and capacity available under the facility as of September 30, 2013.

 

Capacity (a)
 
Borrowings
 
Letters
of Credit
 
Capacity
Available
(In Millions)
             
$3,500 
 
$150
 
$8
 
$3,342

(a)

The capacity decreases to $3,490 million in March 2017.

Entergy Corporation's facility requires it to maintain a consolidated debt ratio of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Utility operating companies (except Entergy New Orleans) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the facility maturity date may occur.

 

            Entergy Corporation has a commercial paper program with a program limit of up to $1.5 billion.  As of September 30, 2013, Entergy Corporation had approximately $1,016 million of commercial paper outstanding.  The weighted-average interest rate for the nine months ended September 30, 2013 was 0.83%.

 

Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2013 as follows:

 


The commitment fees on the credit facilities range from 0.125% to 0.275% of the undrawn commitment amount.

 

The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits are effective through October 31, 2015. In addition to borrowings from commercial banks, these companies are authorized under a FERC order to borrow from the Entergy System money pool. The money pool is an inter-company borrowing arrangement designed to reduce the Utility subsidiaries' dependence on external short-term borrowings. Borrowings from the money pool and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2013 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries:


 

The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of September 30, 2013 as follows:

 

Company

 

Description

 

Amount

 

 

 

 

 

Entergy Arkansas VIE

 

5.69% Series I due July 2014

 

$70 million

Entergy Arkansas VIE

 

3.23% Series J due July 2016

 

$55 million

Entergy Arkansas VIE

 

2.62% Series K due December 2017

 

$60 million

Entergy Gulf States Louisiana VIE

 

3.25% Series Q due July 2017

 

$75 million

Entergy Gulf States Louisiana VIE

 

3.38% Series R due August 2020

 

$70 million

Entergy Louisiana VIE

 

5.69% Series E due July 2014

 

$50 million

Entergy Louisiana VIE

 

3.30% Series F due March 2016

 

$20 million

Entergy Louisiana VIE

 

3.25% Series G due July 2017

 

$25 million

System Energy VIE

 

5.33% Series G due April 2015

 

$60 million

System Energy VIE

 

4.02% Series H due February 2017

 

$50 million

 

In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities' credit facilities, commercial paper, and long-term notes payable is reported in fuel expense.

 

Debt Issuances and Redemptions

 

(Entergy Arkansas)

 

            In January 2013, Entergy Arkansas arranged for the issuance by (i) Independence County, Arkansas of $45 million of 2.375% Pollution Control Revenue Refinancing Bonds (Entergy Arkansas, Inc. Project) Series 2013 due January 2021, and (ii) Jefferson County, Arkansas of $54.7 million of 1.55% Pollution Control Revenue Refunding Bonds (Entergy Arkansas, Inc. Project) Series 2013 due October 2017, each of which series is secured by a separate series of non-interest bearing first mortgage bonds of Entergy Arkansas.  The proceeds of these issuances were applied to the refunding of outstanding series of pollution control revenue bonds previously issued by the respective issuers.

 

            In May 2013, Entergy Arkansas issued $250 million of 3.05% Series first mortgage bonds due June 2023. Entergy Arkansas used the proceeds to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes.

 

            In June 2013, Entergy Arkansas issued $125 million of 4.75% Series first mortgage bonds due June 2063. Entergy Arkansas used the proceeds to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes.

 

            In June 2013 the Entergy Arkansas nuclear fuel company variable interest entity redeemed, at maturity, its $30 million 9% Series H notes.

 

            In July 2013, Entergy Arkansas entered into a $250 million term loan credit facility terminating January 26, 2015 with the collateral support of a series of $255 million non-interest bearing Entergy Arkansas first mortgage bonds.  On July 31, 2013, Entergy Arkansas borrowed $250 million against the credit facility.  Entergy Arkansas used the borrowings to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes.

 

(Entergy Gulf States Louisiana)

 

            In February 2013 the Entergy Gulf States Louisiana nuclear fuel company variable interest entity issued $70 million of 3.38% Series R notes due August 2020.  The Entergy Gulf States Louisiana nuclear fuel company variable interest entity used the proceeds primarily to purchase additional nuclear fuel.

        

In May 2013 the Entergy Gulf States Louisiana nuclear fuel company variable interest entity redeemed, at maturity, its $75 million 5.56% Series N notes.

           

(Entergy Louisiana)

           

            In May 2013, Entergy Louisiana issued $100 million of 4.70% Series first mortgage bonds due June 2063. Entergy Louisiana used the proceeds for general corporate purposes.

 

            In August 2013, Entergy Louisiana issued $325 million of 4.05% Series first mortgage bonds due September 2023.  Entergy Louisiana used the proceeds to repay borrowings under its $200 million credit facility and for general corporate purposes.

 

(Entergy Mississippi)

 

            In February 2013, Entergy Mississippi redeemed, at maturity, its $100 million 5.15% Series first mortgage bonds.

 

            In October 2013, Entergy Mississippi redeemed, prior to maturity, its $16.03 million 4.60% Series pollution control revenue bonds due April 2022.

 

(Entergy New Orleans)

 

            In June 2013, Entergy New Orleans issued $100 million of 3.90% Series first mortgage bonds due July 2023.  Entergy New Orleans used the proceeds to pay, at maturity, its $70 million 5.25% Series first mortgage bonds due August 2013 and for general corporate purposes.

System Energy [Member]
 
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt

NOTE 4. REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

 

            Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in March 2018.  Entergy Corporation also has the ability to issue letters of credit against 50% of the total borrowing capacity of the credit facility.  The commitment fee is currently 0.275% of the undrawn commitment amount.  Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation.  The weighted average interest rate for the nine months ended September 30, 2013 was 1.96% on the drawn portion of the facility.  Following is a summary of the borrowings outstanding and capacity available under the facility as of September 30, 2013.

 

Capacity (a)
 
Borrowings
 
Letters
of Credit
 
Capacity
Available
(In Millions)
             
$3,500 
 
$150
 
$8
 
$3,342

(a)

The capacity decreases to $3,490 million in March 2017.

Entergy Corporation's facility requires it to maintain a consolidated debt ratio of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Utility operating companies (except Entergy New Orleans) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the facility maturity date may occur.

 

            Entergy Corporation has a commercial paper program with a program limit of up to $1.5 billion.  As of September 30, 2013, Entergy Corporation had approximately $1,016 million of commercial paper outstanding.  The weighted-average interest rate for the nine months ended September 30, 2013 was 0.83%.

 

Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2013 as follows:

 


The commitment fees on the credit facilities range from 0.125% to 0.275% of the undrawn commitment amount.

 

The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits are effective through October 31, 2015. In addition to borrowings from commercial banks, these companies are authorized under a FERC order to borrow from the Entergy System money pool. The money pool is an inter-company borrowing arrangement designed to reduce the Utility subsidiaries' dependence on external short-term borrowings. Borrowings from the money pool and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2013 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries:


 

The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of September 30, 2013 as follows:

 

Company

 

Description

 

Amount

 

 

 

 

 

Entergy Arkansas VIE

 

5.69% Series I due July 2014

 

$70 million

Entergy Arkansas VIE

 

3.23% Series J due July 2016

 

$55 million

Entergy Arkansas VIE

 

2.62% Series K due December 2017

 

$60 million

Entergy Gulf States Louisiana VIE

 

3.25% Series Q due July 2017

 

$75 million

Entergy Gulf States Louisiana VIE

 

3.38% Series R due August 2020

 

$70 million

Entergy Louisiana VIE

 

5.69% Series E due July 2014

 

$50 million

Entergy Louisiana VIE

 

3.30% Series F due March 2016

 

$20 million

Entergy Louisiana VIE

 

3.25% Series G due July 2017

 

$25 million

System Energy VIE

 

5.33% Series G due April 2015

 

$60 million

System Energy VIE

 

4.02% Series H due February 2017

 

$50 million

 

In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities' credit facilities, commercial paper, and long-term notes payable is reported in fuel expense.

 

Debt Issuances and Redemptions

 

(Entergy Arkansas)

 

            In January 2013, Entergy Arkansas arranged for the issuance by (i) Independence County, Arkansas of $45 million of 2.375% Pollution Control Revenue Refinancing Bonds (Entergy Arkansas, Inc. Project) Series 2013 due January 2021, and (ii) Jefferson County, Arkansas of $54.7 million of 1.55% Pollution Control Revenue Refunding Bonds (Entergy Arkansas, Inc. Project) Series 2013 due October 2017, each of which series is secured by a separate series of non-interest bearing first mortgage bonds of Entergy Arkansas.  The proceeds of these issuances were applied to the refunding of outstanding series of pollution control revenue bonds previously issued by the respective issuers.

 

            In May 2013, Entergy Arkansas issued $250 million of 3.05% Series first mortgage bonds due June 2023. Entergy Arkansas used the proceeds to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes.

 

            In June 2013, Entergy Arkansas issued $125 million of 4.75% Series first mortgage bonds due June 2063. Entergy Arkansas used the proceeds to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes.

 

            In June 2013 the Entergy Arkansas nuclear fuel company variable interest entity redeemed, at maturity, its $30 million 9% Series H notes.

 

            In July 2013, Entergy Arkansas entered into a $250 million term loan credit facility terminating January 26, 2015 with the collateral support of a series of $255 million non-interest bearing Entergy Arkansas first mortgage bonds.  On July 31, 2013, Entergy Arkansas borrowed $250 million against the credit facility.  Entergy Arkansas used the borrowings to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes.

 

(Entergy Gulf States Louisiana)

 

            In February 2013 the Entergy Gulf States Louisiana nuclear fuel company variable interest entity issued $70 million of 3.38% Series R notes due August 2020.  The Entergy Gulf States Louisiana nuclear fuel company variable interest entity used the proceeds primarily to purchase additional nuclear fuel.

        

In May 2013 the Entergy Gulf States Louisiana nuclear fuel company variable interest entity redeemed, at maturity, its $75 million 5.56% Series N notes.

           

(Entergy Louisiana)

           

            In May 2013, Entergy Louisiana issued $100 million of 4.70% Series first mortgage bonds due June 2063. Entergy Louisiana used the proceeds for general corporate purposes.

 

            In August 2013, Entergy Louisiana issued $325 million of 4.05% Series first mortgage bonds due September 2023.  Entergy Louisiana used the proceeds to repay borrowings under its $200 million credit facility and for general corporate purposes.

 

(Entergy Mississippi)

 

            In February 2013, Entergy Mississippi redeemed, at maturity, its $100 million 5.15% Series first mortgage bonds.

 

            In October 2013, Entergy Mississippi redeemed, prior to maturity, its $16.03 million 4.60% Series pollution control revenue bonds due April 2022.

 

(Entergy New Orleans)

 

            In June 2013, Entergy New Orleans issued $100 million of 3.90% Series first mortgage bonds due July 2023.  Entergy New Orleans used the proceeds to pay, at maturity, its $70 million 5.25% Series first mortgage bonds due August 2013 and for general corporate purposes.