Entergy Mississippi, Inc. 1M BD 66

What does it do?

Entergy Mississippi, Inc. is a regulated electric utility that delivers electricity to homes and businesses across Mississippi. Think of it as the company responsible for keeping the lights on for roughly 450,000 customers in the state. It generates, transmits, and distributes power — everything from flipping on a light switch to powering a factory. It is a subsidiary of Entergy Corporation, one of the largest utility holding companies in the United States.

How does it make money?

As a bond, EMP does not 'make money' in the traditional sense for investors — it pays a fixed interest rate (the coupon) to bondholders until it matures in 2066. The underlying company, Entergy Mississippi, earns revenue by charging customers for electricity under rates approved by Mississippi regulators. That regulated revenue is what backs the bond's ability to make interest payments reliably. The 'first mortgage' label means this debt is secured by the company's physical assets — power lines, plants, substations — giving bondholders a strong legal claim if anything ever went wrong.

Why do investors care?

Investors who buy EMP are essentially looking for steady, predictable income over a very long time horizon — this bond runs until 2066, over 40 years away. The appeal is safety: regulated utilities almost never default because they have captive customers and government-approved revenue. With the current price around $20.68 and a face value typically around $25, buyers may also see a potential price recovery as interest rates eventually fall. The key thing that has to go right is that interest rates decline, which would push bond prices upward and reward current buyers.