CenterPoint Energy to redeem series A preferreds via new convertibles

By Marisa Wong

Los Angeles, Aug. 1 – CenterPoint Energy, Inc. plans to redeem its series A preferred stock, after its call date, using proceeds from an offering of convertible senior notes, according to a press release.

CenterPoint’s 6.125% series A fixed-to-floating rate cumulative redeemable perpetual preferred stock has a first call date on Sept. 1, 2023.

The company announced on Tuesday an offering of $900 million convertible senior notes due 2026 with a $100 million greenshoe.

The company also plans to use proceeds from the new notes to repay a portion of its outstanding commercial paper, among other general corporate purposes.

CenterPoint Energy is a Houston-based electric and gas utility company.

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