CenterPoint to repay portion of debt with proceeds from business sale

By Sarah Lizee

Olympia, Wash., Feb. 24 – CenterPoint Energy, Inc. plans to repay a portion of its outstanding debt using proceeds from the proposed sale of its natural gas retail business, CenterPoint Energy Services, Inc., to Energy Capital Partners, LLC.

The total consideration is about $400 million, including estimated working capital at close.

The sale is anticipated to be completed in the second quarter, subject to the satisfaction of closing conditions, including the expiration or termination of the Hart-Scott-Rodino waiting period.

BNP Paribas provides a committed borrowing base facility to the company.

CenterPoint is a Houston-based public utility holding company.

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