On Tuesday, October 29, 2024, CenterPoint Energy said it entered into an underwriting agreement with BofA Securities, Citigroup Global Markets, J.P. Morgan Securities, Morgan Stanley and Wells Fargo Securities, as representatives of the underwriters, for a public offering of $500,000,000 of its 6.700% Fixed-to-Fixed Reset Rate Junior Subordinated Notes, Series C, due 2055.

1. 01

   On Tuesday, October 29, 2024, CenterPoint Energy said it entered into an underwriting agreement with BofA Securities, Citigroup Global Markets, J.P. Morgan Securities, Morgan Stanley and Wells Fargo Securities, as representatives of the underwriters, for a public offering of $500,000,000 of its 6.700% Fixed-to-Fixed Reset Rate Junior Subordinated Notes, Series C, due 2055.

2. 02

   The company said the notes will bear interest at 6.700% per year from October 31, 2024 to, but excluding, May 15, 2030. After that, the rate will reset every 5 years to the Five-year Treasury Rate plus a spread of 2.586%.

3. 03

   The company said the notes will be unsecured obligations and will rank junior and subordinate in right of payment to the prior payment in full of its existing and future Senior Indebtedness. Interest will be paid semi-annually in arrears on May 15 and November 15 of each year, beginning on May 15, 2025, and the notes will mature on May 15, 2055.

4. 04

   The company said it may defer interest payments on the notes, so long as no Event of Default has occurred and is continuing, for one or more deferral periods of up to 20 consecutive semi-annual interest payment periods. During any deferral period, the company said, it will not, subject to certain exceptions, declare or pay dividends or distributions on its capital stock.

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Original filing

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