Entergy Texas (NYSE:ETR) has priced their new perpetual preferred stock.
The fixed rate coupon will be 5.375%. The issue is small (curiously small) at only 1.4 million shares. This small issue announcement makes me wonder if there is a typo–by a factor of 10.
The issues is rated Ba2 by Moodys and BBB- by Standard and Poors–barely investment grade.
As of moments ago the OTC temporary ticker had not yet been announced.