Published on 1/9/2017 in the Prospect News Investment Grade Daily.
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
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Amount: | $300 million
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Description: | General mortgage bonds
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Maturity: | Feb. 1, 2027
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Bookrunners: | Mizuho Securities USA Inc., Regions Securities LLC, U.S. Bancorp Investments Inc.
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Co-managers: | Williams Capital Group, LP, WR Securities, LLC
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Coupon: | 3%
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Price: | 99.346
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Yield: | 3.076%
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Spread: | Treasuries plus 70 bps
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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
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Trade date: | Jan. 9
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Settlement date: | Jan. 12
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Ratings: | Moody’s: A1
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| S&P: A
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| Fitch: A
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Distribution: | SEC registered
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