Capacity Available

[Table of Contents](#i6266d2788e5849989ad57be380853c2d_7)Entergy Corporation and SubsidiariesNotes to Financial Statements  
  
  
NOTE 4.  REVOLVING CREDIT FACILITIES, LINES OF CREDIT, AND SHORT-TERM BORROWINGS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)  
Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in June 2026.  The facility includes fronting commitments for the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility.  The commitment fee is currently 0.225% of the undrawn commitment amount.  Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation.  The weighted average interest rate for the year ended December 31, 2021 was 1.60% on the drawn portion of the facility.  Following is a summary of the borrowings outstanding and capacity available under the facility as of December 31, 2021.

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|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Capacity |  | Borrowings |  | Letters of Credit |  | Capacity Available |
| (In Millions) |
| $3,500 |  | $165 |  | $6 |  | $3,329 |

  
Entergy Corporation’s credit facility requires Entergy to maintain a consolidated debt ratio, as defined, of 65% or less of its total capitalization.  Entergy is in compliance with this covenant.  If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Utility operating companies (except Entergy New Orleans) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the facility maturity date may occur.  
Entergy Corporation has a commercial paper program with a Board-approved program limit of up to $2 billion.  As of December 31, 2021, Entergy Corporation had $1.201 billion of commercial paper outstanding.  The weighted-average interest rate for the year ended December 31, 2021 was 0.28%.  
Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2021 as follows:

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| Company |  | Expiration Date |  | Amount of Facility |  | Interest Rate (a) |  |  Amount Drawn as of December 31, 2021 |  | Letters of Credit Outstanding as of December 31, 2021 |
| Entergy Arkansas |  | April 2022 |  | $25 million (b) |  | 2.75% |  | — |  | — |
| Entergy Arkansas |  | June 2026 |  | $150 million (c) |  | 1.23% |  | — |  | — |
| Entergy Louisiana |  | June 2026 |  | $350 million (c) |  | 1.32% |  | $125 million |  | — |
| Entergy Mississippi |  | April 2022 |  | $10 million (d) |  | 1.60% |  | — |  | — |
| Entergy Mississippi |  | April 2022 |  | $35 million (d) |  | 1.60% |  | — |  | — |
| Entergy Mississippi |  | April 2022 |  | $37.5 million (d) |  | 1.60% |  | — |  | — |
| Entergy New Orleans |  | June 2024 |  | $25 million (c) |  | 1.73% |  | — |  | — |
| Entergy Texas |  | June 2026 |  | $150 million (c) |  | 1.60% |  | — |  | $1.3 million |

  
(a)The interest rate is the estimated interest rate as of December 31, 2021 that would have been applied to outstanding borrowings under the facility.(b)Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option.(c)The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas.  (d)Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option.   
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