Company: EAI
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000065984-25-000012
Chunk: 566

Company: ENTERGY ARKANSAS, LLC
Filing Date: 2025-02-18
Form: 10-K
Item: Item 7
Chunk 566
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—Vermont Yankee Credit Facility (Entergy Corporation)In January 2019, Entergy Nuclear Vermont Yankee was transferred to NorthStar and its credit facility was assumed by Entergy Assets Management Operations, LLC (formerly Vermont Yankee Asset Retirement, LLC), Entergy Nuclear Vermont Yankee’s parent company that remains an Entergy subsidiary after the transfer.  In 

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Table of ContentsEntergy Corporation and SubsidiariesNotes to Financial Statements

December 2024, Entergy repaid the total $139 million of cash borrowings outstanding under the facility, and the facility was subsequently terminated.Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy)See Note 17 to the financial statements for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIEs).  To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of December 31, 2024:CompanyExpiration DateAmount of FacilityWeighted-Average Interest Rate on Borrowings (a)Amount Outstanding as of December 31, 2024 (Dollars in Millions)Entergy Arkansas VIEJune 2027$806.28%$22.5Entergy Louisiana River Bend VIE June 2027$1056.33%$18.7Entergy Louisiana Waterford VIEJune 2027$1056.32%$18.9System Energy VIEJune 2027$1206.27%$72.7(a)Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company VIEs for Entergy Arkansas, Entergy Louisiana, and System Energy.  The nuclear fuel company VIE for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility.The commitment fees on the credit facilities are 0.100% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs.  Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization.  Each lessee is in compliance with this covenant.The nuclear fuel company VIEs had notes payable that were included in debt on the