CenterPoint pays $290 million to buy back three series of 5.125% bonds

By Devika Patel

Knoxville, Tenn., Jan. 8 - CenterPoint Energy, Inc. said it bought back three series of 5.125% pollution control bonds for $290 million on Jan. 5.

The bonds, which had been issued by the Brazos River Authority in 1998, were purchased at 101 plus interest.

"CenterPoint Energy's purchase of the bonds reduces temporary investments and leverage while providing the company with the flexibility to finance future capital needs in the tax-exempt market through a remarketing of the bonds," CenterPoint Energy's executive vice president and chief financial officer, Gary L. Whitlock, said in a press release.

CenterPoint is a Houston-based energy delivery company.

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