Delaware (State or other jurisdiction of incorporation) |
333-121505 (Commission File Number) |
59-3790472 (IRS Employer Identification No.) |
1111 Louisiana, Suite 4655B Houston, Texas (Address of principal executive offices) |
77002 (Zip Code) |
Item 8.01 Other Events. | ||||||||
Item 9.01 Financial Statements and Exhibits. | ||||||||
SIGNATURES | ||||||||
EXHIBIT INDEX | ||||||||
EX-99.1 |
Outstanding | ||||||||
Principal | ||||||||
Tranche | Balance | Interest Rate | ||||||
A-2 |
$ | 88,537,461 | 4.970 | % | ||||
A-3 |
$ | 252,000,000 | 5.090 | % | ||||
A-4 |
$ | 519,000,000 | 5.170 | % | ||||
A-5 |
$ | 462,000,000 | 5.302 | % |
CENTERPOINT ENERGY TRANSITION BOND COMPANY II, LLC |
||||
Date: August 2, 2011 | By: | /s/ Marc Kilbride | ||
Marc Kilbride | ||||
Vice President, Treasurer and Manager |
Exhibit Number | Exhibit Description | |
99.1
|
Semiannual Servicers Certificate, dated as of July 28, 2011, as to the transition bond balances, the balances of the collection account and its sub-accounts, and setting forth transfers and payments to be made on the August 1, 2011 payment date. |
i. |
Remittances for the January 29 through 31, 2011 Collection Period | 134,728.76 | ||||||||
ii. |
Remittances for the February 1 through 28, 2011 Collection Period | 13,957,081.35 | ||||||||
iii. |
Remittances for the March 1 through 31, 2011 Collection Period | 16,155,014.69 | ||||||||
iv. |
Remittances for the April 1 through 30, 2011 Collection Period | 12,757,773.10 | ||||||||
v. |
Remittances for the May 1 through 31, 2011 Collection Period | 13,033,178.20 | ||||||||
vi. |
Remittances for the June 1 through 30, 2011 Collection Period | 17,636,240.87 | ||||||||
vii. |
Remittances for the July 1 through 28, 2011 Collection Period | 17,416,620.94 | ||||||||
viii. |
Net Earnings on Collection Account | [through 6/30/11] | ||||||||
General Subaccount |
21,978.54 | |||||||||
Capital Subaccount |
4,299.47 | |||||||||
Excess Funds Subaccount |
2,285.54 | |||||||||
ix. |
General Subaccount Balance (sum of i through viii above) | 91,119,201.46 | ||||||||
x. |
Excess Funds Subaccount Balance as of Prior Payment Date | 5,576,508.95 | ||||||||
xi. |
Capital Subaccount Balance as of Prior Payment Date | 9,255,000.00 | ||||||||
xii. |
Collection Account Balance (sum of ix through xi above) | 105,950,710.41 | ||||||||
i.
|
Tranche A-1 Principal Balance | 0.00 | ||||||
ii.
|
Tranche A-2 Principal Balance | 139,554,687.00 | ||||||
iii.
|
Tranche A-3 Principal Balance | 252,000,000.00 | ||||||
iv.
|
Tranche A-4 Principal Balance | 519,000,000.00 | ||||||
v.
|
Tranche A-5 Principal Balance | 462,000,000.00 | ||||||
vi.
|
Aggregate Principal Balance of all Series A Transition Bonds | 1,372,554,687.00 | ||||||
Projected | ||||||||||
Principal | Semiannual | |||||||||
Series A Principal | Balance | Principal Due | ||||||||
i.
|
Tranche A-1 | 0.00 | 0.00 | |||||||
ii.
|
Tranche A-2 | 88,537,461.00 | 51,017,226.00 | |||||||
iii.
|
Tranche A-3 | 252,000,000.00 | 0.00 | |||||||
iv.
|
Tranche A-4 | 519,000,000.00 | 0.00 | |||||||
v.
|
Tranche A-5 | 462,000,000.00 | 0.00 | |||||||
vi.
|
For all Series A Transition Bonds | 1,321,537,461.00 | 51,017,226.00 | |||||||
Transition | Days in | |||||||||||||
Bond | Interest | |||||||||||||
Interest Rate | Period (1) | Interest Due | ||||||||||||
vii.
|
Required Tranche A-1 Interest | 4.840 | % | 180 | 0.00 | |||||||||
viii.
|
Required Tranche A-2 Interest | 4.970 | % | 180 | 3,467,933.97 | |||||||||
ix.
|
Required Tranche A-3 Interest | 5.090 | % | 180 | 6,413,400.00 | |||||||||
x.
|
Required Tranche A-4 Interest | 5.170 | % | 180 | 13,416,150.00 | |||||||||
xi.
|
Required Tranche A-5 Interest | 5.302 | % | 180 | 12,247,620.00 |
(1) | On 30/360 Day basis. |
Funding | ||||||||||
Required Level | Required | |||||||||
xii.
|
Capital Subaccount | 9,255,000.00 | 0.00 |
i.
|
Trustee Fees and Expenses | 2,500.00 | ||||
ii.
|
Servicing Fee | 462,750.00 | (1) | |||
iii.
|
Administration Fee and Independent Managers Fee | 50,000.00 | (2) | |||
iv.
|
Operating Expenses | 82,344.28 | (3) | |||
v.
|
Semiannual Interest (including any past-due Semiannual Interest for prior periods) |
Per 1,000 | ||||||||
of Original | ||||||||
Series A | Aggregate | Principal Amount | ||||||
1. Tranche A-1 Interest Payment
|
0.00 | 0.00 | ||||||
2. Tranche A-2 Interest Payment
|
3,467,933.97 | 9.42 | ||||||
3. Tranche A-3 Interest Payment
|
6,413,400.00 | 25.45 | ||||||
4. Tranche A-4 Interest Payment
|
13,416,150.00 | 25.85 | ||||||
5. Tranche A-5 Interest Payment
|
12,247,620.00 | 26.51 |
vi.
|
Principal Due and Payable as a result of (A) Event of Default or (B) on Final Maturity Date |
Per 1,000 | ||||||||
of Original | ||||||||
Series A | Aggregate | Principal Amount | ||||||
1. Tranche A-1 Principal Payment
|
0.00 | 0.00 | ||||||
2. Tranche A-2 Principal Payment
|
0.00 | 0.00 | ||||||
3. Tranche A-3 Principal Payment
|
0.00 | 0.00 | ||||||
4. Tranche A-4 Principal Payment
|
0.00 | 0.00 | ||||||
5. Tranche A-5 Principal Payment
|
0.00 | 0.00 |
Per 1,000 | ||||||||
of Original | ||||||||
Series A | Aggregate | Principal Amount | ||||||
1. Tranche A-1 Principal Payment
|
0.00 | 0.00 | ||||||
2. Tranche A-2 Principal Payment
|
51,017,226.00 | 138.63 | ||||||
3. Tranche A-3 Principal Payment
|
0.00 | 0.00 | ||||||
4. Tranche A-4 Principal Payment
|
0.00 | 0.00 | ||||||
5. Tranche A-5 Principal Payment
|
0.00 | 0.00 |
vii.
|
Amounts Payable to Credit Enhancement Providers (if applicable) | N/A | ||||
viii.
|
Operating Expenses not Paid under Clause (iv) above | 0.00 | ||||
ix.
|
Funding of Capital Subaccount | 0.00 | ||||
x.
|
Net Earnings in Capital Subaccount Released to Issuer | 4,299.47 | ||||
xi.
|
Deposit to Excess Funds Subaccount | 3,954,977.74 | ||||
xii.
|
Released to Issuer upon Series Retirement: Collection Account | 0.00 | ||||
xiii.
|
Aggregate Remittances as of Current Payment Date | 91,119,201.46 | ||||
(1) | Servicing fee: $1,851,000,000 x .05% x 180/360 = $462,750.00 | |
(2) | Administration fee: $100,000 x 180/360 = $50,000.00; Independent Managers fee: $0.00 | |
(3) | Reimbursement to Administrator for fees/expenses paid to outside legal counsel ($2,386.50), independent public accountant ($69,538.00), printer ($440.00) and L/C issuing bank ($9,979.78) |
i.
|
Excess Funds Subaccount (available for 4.i. through 4.ix.) | 0.00 | ||||
ii.
|
Capital Subaccount (available for 4.i. through 4.viii.) | 0.00 | ||||
iii.
|
Total Withdrawals | 0.00 | ||||
Series A | ||||||
i.
|
Tranche A-1 Principal Balance | 0.00 | ||||
ii.
|
Tranche A-2 Principal Balance | 88,537,461.00 |
Series A | ||||||
iii.
|
Tranche A-3 Principal Balance | 252,000,000.00 | ||||
iv.
|
Tranche A-4 Principal Balance | 519,000,000.00 | ||||
v.
|
Tranche A-5 Principal Balance | 462,000,000.00 | ||||
vi.
|
Aggregate Principal Balance for all Series A Transition Bonds | 1,321,537,461.00 | ||||
vii.
|
Excess Funds Subaccount Balance | 9,531,486.69 | ||||
viii.
|
Capital Subaccount Balance | 9,255,000.00 | ||||
ix.
|
Aggregate Collection Account Balance | 18,786,486.69 | ||||
i.
|
Semiannual Interest |
Series A | ||||
1. Tranche A-1 Bond Interest Payment
|
0.00 | |||
2. Tranche A-2 Bond Interest Payment
|
0.00 | |||
3. Tranche A-3 Bond Interest Payment
|
0.00 | |||
4. Tranche A-4 Bond Interest Payment
|
0.00 | |||
5. Tranche A-5 Bond Interest Payment
|
0.00 |
ii.
|
Semiannual Principal |
Series A | ||||
1. Tranche A-1 Principal Payment
|
0.00 | |||
2. Tranche A-2 Principal Payment
|
0.00 | |||
3. Tranche A-3 Principal Payment
|
0.00 | |||
4. Tranche A-4 Principal Payment
|
0.00 | |||
5. Tranche A-5 Principal Payment
|
0.00 |
i.
|
Capital Subaccount | 0.00 |
CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC, as Servicer |
||||
by: | /s/ Linda Geiger | |||
Linda Geiger | ||||
Assistant Treasurer | ||||