entergy louisiana , llc management's financial discussion and analysis entergy's utility supply plan initiative will continue to seek to transform its generation portfolio with new or repowered generation resources . opportunities resulting from the supply plan initiative , including new projects or the exploration of alternative financing sources , could result in increases or decreases in the capital expenditure estimates given above . the estimated capital expenditures are subject to periodic review and modification and may vary based on the ongoing effects of regulatory constraints , environmental compliance , market volatility , economic trends , business restructuring , and the ability to access capital . management provides more information on long- term debt and preferred stock maturities in notes 5 and 6 to the financial statements . sources of capital entergy louisiana's sources to meet its capital requirements include : internally generated funds ; cash on hand ; debt or preferred membership interest issuances ; and bank financing under new and existing facilities . entergy louisiana may refinance or redeem debt and preferred membership interests prior to maturity , to the extent market conditions and interest and distribution rates are favorable . all debt and common and preferred membership interest issuances by entergy louisiana require prior regulatory approval . preferred membership interest and debt issuances are also subject to issuance tests set forth in corporate charters , bond indentures , and other agreements . entergy louisiana has sufficient capacity under these tests to meet its foreseeable capital needs . entergy louisiana's receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years: .

Table: 2008 2007 2006 2005 ( in thousands ) ( in thousands ) ( in thousands ) ( in thousands ) $ 61236 ( $ 2791 ) ( $ 54041 ) ( $ 68677 )

see note 4 to the financial statements for a description of the money pool . entergy louisiana has a credit facility in the amount of $ 200 million scheduled to expire in august 2012 . no borrowings were outstanding under the credit facility as of december 31 , 2008 . in april 2008 , entergy louisiana repurchased , prior to maturity , $ 60 million of auction rate governmental bonds , which are being held for possible remarketing at a later date . in august 2008 , entergy louisiana issued $ 300 million of 6.50% ( 6.50 % ) series first mortgage bonds due september 2018 . the net proceeds of the issuance will be used for capital expenditures , working capital needs , and general corporate purposes . prior to their application , the remaining net proceeds may be invested in temporary cash investments or the entergy system money pool . hurricane rita and hurricane katrina in august and september 2005 , hurricane katrina and hurricane rita , along with extensive flooding that resulted from levee breaks in and around entergy louisiana's service territory , caused catastrophic damage . the storms and flooding resulted in widespread power outages ; significant damage to distribution , transmission , and generation infrastructure ; and the temporary loss of sales and customers due to mandatory evacuations and destruction of homes and businesses due to wind , rain , and extended periods of flooding . entergy pursued a broad range of initiatives to recover storm restoration and business continuity costs and incremental losses . initiatives included obtaining reimbursement of certain costs covered by insurance and pursuing recovery through existing or new rate mechanisms regulated by the ferc and local regulatory bodies , in combination with securitization. .

Question: what is the annual interest expense for entergy louisiana incurred from the series first mortgage bonds due september 2018 , in millions?
Answer: 19.5
Calculation: multiply(300, 6.50%)