By Wendy Van Sickle and Cristal Cody
Columbus, Ohio, Feb. 26 – CenterPoint Energy, Inc. priced $1.7 billion of senior notes (A3/BBB+/A-) in two tranches on Friday, according to an FWP filing with the Securities and Exchange Commission.
A $700 million tranche of 0.7% two-year notes priced at 99.903 to yield 0.749%, or a Treasuries plus 60 basis points spread.
Initial price talk was in the 75 bps area.
CenterPoint also sold $1 billion of two-year floaters at a coupon of Libor plus 50 bps at par.
Bookrunners were J.P. Morgan Securities, LLC, MUFG, U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC.
Proceeds will be used for general corporate purposes.
CenterPoint Energy is a Houston-based public utility holding company.
| Issuer: | CenterPoint Energy, Inc.
|
| Amount: | $1.7 billion
|
| Description: | Senior notes
|
| Bookrunners: | J.P. Morgan Securities, LLC, MUFG, U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC
|
| Co-manager: | Drexel Hamilton, LLC
|
| Trade date: | Feb. 26
|
| Settlement date: | March 2
|
| Ratings: | Moody’s: A3
|
| S&P: BBB+
|
| Fitch: A-
|
| Distribution: | SEC registered
|
|
|
| Fixed-rate notes
|
| Amount: | $700 million
|
| Maturity: | March 2, 2023
|
| Coupon: | 0.7%
|
| Price: | 99.903
|
| Yield: | 0.749%
|
| Spread: | Treasuries plus 60 bps
|
| Call option: | At par starting on Sept. 2, 2021
|
| Price talk: | Treasuries plus 75 bps area
|
|
|
| Floating-rate notes
|
| Securities: | Floating-rate notes
|
| Amount: | $1 billion
|
| Maturity: | March 2, 2023
|
| Coupon: | Libor plus 50 bps
|
| Price: | Par
|
| Yield: | Libor plus 50 bps
|
| Call option: | At par starting on Sept. 2, 2021
|
|
|
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