File No. 70-7580
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
Form U- I
________________________________________
POST-EFFECTIVE AMENDMENT NO. 7
to
APPLICATION-DECLARATION
under
THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
_______________________________________
Entergy Louisiana, Inc.
639 Loyola Avenue
New Orleans, Louisiana 70113
(Name of company filing this statement and address
of principal executive offices)
________________________________________
Entergy Corporation
(Name of top registered holding company parent of each
applicant or declarant)
________________________________________
C. John Wilder
Executive Vice President and
Chief Financial Officer
Entergy Louisiana, Inc.
639 Loyola Avenue
New Orleans, Louisiana 70113
(Name and address of agent for service)
______________________________________
The Commission is also requested to send copies of any
communications in connection with this matter to:
Denise C. Redmann, Esq. William T. Baker, Jr., Esq.
Entergy Services, Inc. Daniel Guetta, Esq.
639 Loyola Avenue Thelen Reid & Priest LLP
New Orleans, Louisiana 70113 40 West 57th Street
New York, New York 10019
<PAGE>
Item 1. Description of Proposed Transactions.
Pursuant to Commission authorization in this file (HCAR
Nos. 24810, 25246, 26460 and 27087, February 2, 1989, January 24,
1991, January 24, 1996 and October 15, 1999, respectively) (the
"Orders"), Entergy Louisiana, Inc. ("Entergy Louisiana") entered
into a Fuel Lease, dated as of January 31, 1989 (the "Lease"),
with River Fuel Company #2, Inc. ("River Fuel"). Pursuant to the
Lease, River Fuel acquires nuclear fuel for use at Entergy
Louisiana's Waterford 3 nuclear generating unit and leases such
nuclear fuel to Entergy Louisiana. Under the terms of the Lease,
Entergy Louisiana is required to make rental payments in such
amounts as are necessary for River Fuel to meet its debt service
requirements and other expenses.
In accordance with the terms of the Orders, River Fuel
finances the acquisition of nuclear fuel through (a) revolving
credit borrowings and/or the issuance of commercial paper
pursuant to an Amended and Restated Credit Agreement, dated as of
November 19, 1999 (the "1999 Credit Agreement"), with The Bank of
New York, as agent, and various other Lenders thereunder; and (b)
the issuance and sale of intermediate term secured notes to
institutional investors. The commercial paper issued pursuant to
the 1999 Credit Agreement is supported by irrevocable direct-pay
letters of credit issued by the Lenders. The Orders further
provide that River Fuel's combined obligations under its credit
facility and its outstanding intermediate term secured notes may
at no time exceed $160 million.
River Fuel is currently in discussions with The Bank of
New York concerning the execution of a new credit agreement which
will replace (and extend the term of) the 1999 Credit Agreement.
Due to changes in the credit markets that have occurred since the
execution of the 1999 Credit Agreement, The Bank of New York,
together with certain additional proposed lenders, are requiring
certain adjustments in the interest rates and fees payable by
River Fuel thereunder.
In accordance with the terms of the Orders, River Fuel
is currently authorized to pay interest under the 1999 Credit
Agreement as follows: (1) in the case of base rate borrowings, a
maximum rate of interest equal to the higher of (a) the prime
rate in effect on the date of such borrowing, and (b) the sum of
1% per annum and the Federal Funds Rate in effect on the date of
such borrowing; and (2) in the case of borrowings based on the
London Interbank Offered Rate ("LIBOR"), a maximum rate of
interest equal to 2% per annum in excess of LIBOR.
In addition, in accordance with the terms of the
Orders, River Fuel is currently authorized to pay the following
maximum fees under the 1999 Credit Agreement: (1) a maximum
letter of credit fee of 1% per annum on the average aggregate
face amount of commercial paper outstanding during each quarter
that Entergy Louisiana's senior debt is investment grade, and 1-
7/8% per annum on the average aggregate face amount of commercial
paper outstanding during each quarter that Entergy Louisiana's
senior debt is not investment grade; (2) a maximum commitment fee
of 1/4 of 1% per annum on the difference between the maximum
commitment under the 1999 Credit Agreement and the average daily
amount of commercial paper and revolving credit loans outstanding
thereunder during each quarter; and (3) a maximum administrative
fee of $10,000 per annum.
In connection with the execution by River Fuel of a new
credit agreement, it is now proposed that loans under River
Fuel's new credit agreement (or any successor credit agreement)
bear interest at rates not in excess of those rates generally
obtainable at the time for loans having the same or reasonably
similar maturities, obtained by companies of the same or
reasonably comparable credit quality and having reasonably
similar terms, conditions and features.
In addition, it is also now proposed that River Fuel
pay maximum fees under the new credit agreement (or any successor
credit agreement) as follows: (1) a maximum letter of credit fee
of 5% per annum on the average aggregate face amount of
commercial paper outstanding during each quarter, with the
specific amount of such fee to be determined based upon Entergy
Louisiana's senior debt rating; (2) a maximum commitment fee of
2% per annum on the difference between the maximum commitment
under the new credit agreement and the average daily amount of
commercial paper and revolving credit loans outstanding
thereunder during each quarter; (3) a maximum administrative fee
of $50,000 per annum; and (4) maximum one time closing fees of
$1,500,000, consisting of up-front fees, arrangement fees,
administrative agency fees and such other closing fees as are
customary in connection with similar credit agreements.
Under the terms of the Lease, River Fuel may not enter
into any successor credit agreement without the consent of
Entergy Louisiana. Authorization is herein requested for Entergy
Louisiana to consent to the execution by River Fuel of a new
credit agreement (and any successor credit agreements)
incorporating the terms described herein.
Item 3. Applicable Statutory Provisions.
Entergy Louisiana believes that its participation in
the transactions proposed herein is subject to Sections 9(a) and
10 of the Act and that no other Sections of the Act, including
Sections 6 and 7, are applicable.
Item 5. Procedure.
Entergy Louisiana hereby requests that the Commission's
supplemental order authorizing Entergy Louisiana to consent to
the execution by River Fuel of a new credit agreement be entered
on or before January 15, 2001.
Entergy Louisiana hereby waives a recommended decision
by a hearing officer or any other responsible officer of the
Commission; agrees that the Staff of the Division of Investment
Management may assist in the preparation of the Commission's
decision; and requests that there be no waiting period between
the issuance of the Commission's supplemental order and the date
on which it is to become effective.
Item 6. Exhibits and Financial Statements.
(a) Exhibits:
*B New Credit Agreement.
H Suggested form of notice of proposed transactions
for publication in the Federal Register.
(b) Financial Statements:
The transactions proposed herein do not contemplate an
increase in the amount of financing currently authorized by the
Commission. Therefore, no financial statements are filed
herewith.
* To be filed by Rule 24 Certificate after execution of new Credit
Agreement.
<PAGE>
SIGNATURE
Pursuant to the requirements of the Public Utility
Holding Company Act of 1935, the undersigned company has duly
caused this amendment to be signed on its behalf by the
undersigned thereunto duly authorized.
ENTERGY LOUISIANA , INC.
By: /s/ Steven C. McNeal
Steven C. McNeal
Vice President and Treasurer
Dated: October 11, 2000
