Feb 13, 2004
CenterPoint Energy subsidiary announces issuance of two series of collateralized revenue refunding bonds
CenterPoint Energy subsidiary announces issuance of two series of collateralized revenue refunding bonds
HOUSTON - February 13, 2004 - CenterPoint Energy, Inc. (NYSE: CNP) today announced the issuance of two series of collateralized revenue refunding bonds by two governmental authorities on behalf of CenterPoint Energy Houston Electric, LLC, CenterPoint Energy's electric transmission and distribution subsidiary.
The first series of refunding bonds, with an aggregate principal amount of approximately $56.1 million, bears a long-term interest rate of 5.6 percent and was issued on Feb. 6, 2004.
The second series of refunding bonds, with an aggregate principal amount of $43.8 million, bears a long-term interest rate of 4.25 percent and was issued on Feb. 11, 2004.
CenterPoint Energy Houston Electric, LLC's installment payment obligations for each series of refunding bonds are collateralized by separate series of its general mortgage bonds. Payment of the principal at maturity and interest when due on the second series of refunding bonds is guaranteed by a municipal bond insurance policy issued by Financial Guaranty Insurance Company.
The proceeds of the refunding bonds will be used to redeem two series of currently outstanding collateralized revenue refunding bonds previously issued by the same governmental authorities on behalf of CenterPoint Energy Houston Electric, LLC's predecessor, Houston Lighting & Power Company.
The bonds to be redeemed have an aggregate principal amount of approximately $99.9 million, bear a long-term interest rate of 6.70 percent and were originally issued in April 1992. CenterPoint Energy's installment payment obligations for each series of the bonds to be redeemed are collateralized by separate series of CenterPoint Energy Houston Electric, LLC's first mortgage bonds.
The offering of the refunding bonds is not required to be registered under the Securities Act of 1933.
This news release does not constitute an offer to sell, or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering would be unlawful.
For more information contact:
Media: Leticia Lowe, 713.207.7702
Investors: Marianne Paulsen, 713.207.6500
The first series of refunding bonds, with an aggregate principal amount of approximately $56.1 million, bears a long-term interest rate of 5.6 percent and was issued on Feb. 6, 2004.
The second series of refunding bonds, with an aggregate principal amount of $43.8 million, bears a long-term interest rate of 4.25 percent and was issued on Feb. 11, 2004.
CenterPoint Energy Houston Electric, LLC's installment payment obligations for each series of refunding bonds are collateralized by separate series of its general mortgage bonds. Payment of the principal at maturity and interest when due on the second series of refunding bonds is guaranteed by a municipal bond insurance policy issued by Financial Guaranty Insurance Company.
The proceeds of the refunding bonds will be used to redeem two series of currently outstanding collateralized revenue refunding bonds previously issued by the same governmental authorities on behalf of CenterPoint Energy Houston Electric, LLC's predecessor, Houston Lighting & Power Company.
The bonds to be redeemed have an aggregate principal amount of approximately $99.9 million, bear a long-term interest rate of 6.70 percent and were originally issued in April 1992. CenterPoint Energy's installment payment obligations for each series of the bonds to be redeemed are collateralized by separate series of CenterPoint Energy Houston Electric, LLC's first mortgage bonds.
The offering of the refunding bonds is not required to be registered under the Securities Act of 1933.
This news release does not constitute an offer to sell, or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering would be unlawful.
For more information contact:
Media: Leticia Lowe, 713.207.7702
Investors: Marianne Paulsen, 713.207.6500