CenterPoint Energy Subsidiary Closes On New Receivables Financing Facility
HOUSTON, Nov 28, 2008 (GlobeNewswire via COMTEX News Network) -- CenterPoint Energy Resources Corp. (CERC), the natural gas distribution, competitive natural gas sales and services, and pipelines and gas gathering subsidiary of CenterPoint Energy Inc. (NYSE:CNP), announced that it and certain of its subsidiaries have closed on a new receivables financing facility that became effective November 25, 2008. The new 364-day facility will provide additional liquidity to CERC and its subsidiaries. Availability under the facility ranges from $128 million to $375 million, reflecting seasonal changes in receivables balances. The new facility replaces a similar facility that expired in October 2008.
CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission & distribution, natural gas distribution, competitive natural gas sales and services, interstate pipelines, and field services operations. The company serves more than five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. Assets total over $19 billion. With about 8,600 employees, CenterPoint Energy and its predecessor companies have been in business for more than 130 years. For more information, visit the Web site at www.CenterPointEnergy.com.
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This news release includes forward-looking statements. Actual events and results may differ materially from those projected. The statements in this news release regarding future financial performance and results of operations and other statements that are not historical facts are forward-looking statements. Factors that could affect actual results include the timing and outcome of appeals from the true-up proceedings, the timing and impact of future regulatory, legislative, and IRS decisions, effects of competition, weather variations, changes in CenterPoint Energy's or its subsidiaries' business plans, financial market conditions, the timing and extent of changes in commodity prices, particularly natural gas, the impact of unplanned facility outages, and other factors discussed in CenterPoint Energy's and its subsidiaries' Form 10-Ks for the period ended December 31, 2007, CenterPoint Energy's and its subsidiaries' Form 10-Qs for the periods ended March 31, 2008, June 30, 2008, and September 30, 2008, and other filings with the SEC.
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SOURCE: CenterPoint Energy, Inc.
CenterPoint Energy Inc. Media: Leticia Lowe 713.207.7702 Investors: Marianne Paulsen 713.207.6500
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