print html entities in link drupal
Just pass html =&gt; TRUE as an option:

$options = array('html' =&gt; TRUE);
l('Visit Website &amp;raquo;', 'http://' . $site-&gt;purl_prefix . '.' . $base, $options); 


From the docs:


  'html' (default FALSE): Whether $text is HTML or just plain-text. For example, to make an image tag into a link, this must be set to TRUE, or you will see the escaped HTML image tag. $text is not sanitized if 'html' is TRUE. The calling function must ensure that $text is already safe.