CenterPoint Energy enters $500 million one-year term loan via Mizuho

By Marisa Wong

Los Angeles, Aug. 23 – CenterPoint Energy Resources Corp. entered into a $500 million term loan agreement on Aug. 23 with Mizuho Bank, Ltd. as administrative agent, lead arranger and bank, according to an 8-K filing with the Securities and Exchange Commission.

The company borrowed the full $500 million at closing and intends to use the proceeds for general corporate purposes.

The term loan matures on Aug. 22, 2023.

Borrowings bear interest at term SOFR+10 basis points CSA plus a margin of 70 bps.

The loan agreement requires the company not to exceed a specified ratio of debt to consolidated capitalization (excluding, among other things, non-cash reductions to net income).

The Houston-based company is a subsidiary of electric and gas utility CenterPoint Energy, Inc.

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