Company: EAI
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000065984-25-000132
Chunk: 269

Company: ENTERGY ARKANSAS, LLC
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 7
Chunk 269
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 for additional discussion of the Entergy Corporation credit facility and discussion of the Registrant Subsidiaries’ credit facilities.

Entergy Corporation has a commercial paper program with a Board-approved program limit of $2 billion.  As of September 30, 2025, Entergy Corporation had $1,398 million of commercial paper outstanding.  The weighted-average interest rate for the nine months ended September 30, 2025 was 4.64%.

Equity Issuances and Equity Distribution Program

See “MANAGEMENT’S FINANCIAL DISCUSSION AND ANALYSIS - Liquidity and Capital Resources - Sources of Capital - Equity Issuances and Equity Distribution Program” in the Form 10-K and Note 3 to the financial statements herein for discussion of equity issuances, the equity distribution program, and equity forward sale agreements.  The following are updates to that discussion.

In March 2025, Entergy marketed an equity offering of 17.8 million shares of Entergy Corporation common stock.  In lieu of issuing equity at the time of the offering, Entergy entered into forward sale agreements with several forward counterparties.  The forward sale agreements require Entergy to, at its election on or prior to September 30, 2026, either (1) physically settle the transactions by issuing the total of 17.8 million shares of its common stock to the forward counterparties in exchange for net proceeds at the then-applicable forward sale price specified by the agreements (initially $81.87 per share) or (2) net settle the transactions in whole or in part through the delivery or receipt of cash or shares.  The forward sale price is subject to adjustment on a daily basis based on a floating interest rate factor and will decrease by other fixed amounts specified in the agreements.

In May 2025, Entergy Corporation physically settled all of its obligations under certain of its then-outstanding forward sale agreements under its at the market equity distribution program for cash proceeds of $806 million.

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Table of ContentsEntergy Corporation and SubsidiariesManagement’s Financial Discussion and Analysis

In October 2025, Entergy Corporation physically settled all of its obligations under certain of its then-outstanding forward sale agreements under its at the market equity distribution program for cash proceeds of $332 million.

Entergy Corporation currently expects to issue approximately $4.4 billion of equity through 2029, which it may issue under its at the market equity distribution program or otherwise, with approximately $1.9 billion already contracted