New Issue: CenterPoint Energy prices $300 million 3% 10-year mortgage bonds at 70 bps spread

By Cristal Cody

Eureka Springs, Ark., Jan. 9 – CenterPoint Energy Houston Electric, LLC sold $300 million of 3% series AA 10-year general mortgage bonds with a spread of 70 basis points over Treasuries on Monday, according to an FWP filing with the Securities and Exchange Commission.

The bonds due Feb. 1, 2027 (A1/A/A) priced at 99.346 to yield 3.076%.

Mizuho Securities USA Inc., Regions Securities LLC and U.S. Bancorp Investments Inc. were the bookrunners.

Proceeds will be used for general limited liability company purposes.

CenterPoint Energy is a Houston-based electricity transmitter and distributor.

Issuer:	CenterPoint Energy Houston Electric, LLC
Amount:	$300 million
Description:	General mortgage bonds
Maturity:	Feb. 1, 2027
Bookrunners:	Mizuho Securities USA Inc., Regions Securities LLC, U.S. Bancorp Investments Inc.
Co-managers:	Williams Capital Group, LP, WR Securities, LLC
Coupon:	3%
Price:	99.346
Yield:	3.076%
Spread:	Treasuries plus 70 bps
Call features:	Before Nov. 1, 2026 at greater of par or make-whole amount of Treasuries plus 12.5 bps; on or after Nov. 1, 2026 at par
Trade date:	Jan. 9
Settlement date:	Jan. 12
Ratings:	Moody’s: A1
	S&P: A
	Fitch: A
Distribution:	SEC registered

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.