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Published on 3/8/2021 in the Prospect News Investment Grade Daily.

CenterPoint Energy to price two series of general mortgage bonds

By Marisa Wong

Los Angeles, March 8 – CenterPoint Energy Houston Electric, LLC plans to price general mortgage bonds, series AE and series AF, according to a 424B2 filing with the Securities and Exchange Commission.

Spread talk on a tranche due April 1, 2031 is initially in the Treasuries plus 95 basis points area.

Spread talk on a tranche due April 1, 2051 is in the Treasuries plus 120 bps area.

BNP Paribas Securities Corp., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, TD Securities (USA) LLC, Wells Fargo Securities, LLC., BNY Mellon Capital Markets, LLC, Comerica Securities, Inc., RBC Capital Markets, LLC and Truist Securities, Inc. are the joint bookrunners. C.L. King & Associates, Inc. is co-manager.

Proceeds will be used for general limited liability company purposes, including capital expenditures and the repayment of all of the company’s outstanding $102 million of 9.15% first mortgage bonds March 15, 2021, all of its outstanding $300 million of 1.85% general mortgage bonds due June 1, 2021 and all or a portion of the borrowings under its money pool. On Dec. 31 the company had about $8 million of borrowings under the money pool at a weighted average annual interest rate of 0.24%.

The issuer is an indirect wholly owned subsidiary of CenterPoint Energy, Inc., an electric utility based in Houston.


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