Hunton Andrews Kurth Advises on $1,491,485,000 Louisiana Local Government Environmental Facilities and Community Development Authority System Restoration Bonds (Louisiana Utilities Restoration Corporation Project/ELL)

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May 29, 2023
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Hunton Andrews Kurth LLP advised the underwriters in connection with the sale of $1,491,485,000 Louisiana Local Government Environmental Facilities and Community Development Authority System Restoration Bonds (Louisiana Utilities Restoration Corporation Project/ELL) Series 2023 (Federally Taxable).

The bonds were sold by the Louisiana Local Government Environmental Facilities and Community Development Authority, as the issuing entity, pursuant to the financing order of the Louisiana Public Service Commission, issued pursuant to enabling legislation. The bonds are secured by system restoration property that includes the irrevocable contract right, created by the financing order and vested solely in the Louisiana Utilities Restoration Corporation, to impose, collect and receive the nonbypassable consumption-based system restoration charge from all existing and future electric customers receiving electric transmission or distribution service, or both from Entergy Louisiana, LLC (“ELL”). The proceeds from sale of the bonds were used to finance the system restoration costs incurred by ELL associated with Hurricane Ida and certain additional costs associated with Hurricanes Laura, Delta, and Zeta, and Winter Storm Uri.

The Hunton Andrews Kurth team included Michael F. FitzpatrickAdam O’BrianMichelle G. ChanMatthew A. Hayes and Monika M. DziewaJason Harbour assisted with certain bankruptcy advice, Shawn Regan and Kate Perkins assisted with certain constitutional law matters, Leslie A. Okinaka provided ERISA advice and Cary TolleyAnna Page and Tim Strother provided tax advice.

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