CenterPoint plans floaters due 2024, fixed-rate notes due 2026, 2031

By Marisa Wong and Cristal Cody

Los Angeles, May 11 – CenterPoint Energy, Inc. plans to price floating-rate senior notes due 2024, fixed-rate senior notes due 2026 and fixed-rate senior notes due 2031, according to a 424B5 filing with the Securities and Exchange Commission.

According to a market source, price talk for the floating-rate notes due May 13, 2024 is in the SOFR plus 90 basis point area. Talk for the fixed-rate notes due June 1, 2026 is in the Treasuries plus 95 bps area, and talk for the fixed-rate notes due June 1, 2031 is in the Treasuries plus 130 bps area.

BofA Securities, Inc., Mizuho Securities USA LLC, MUFG, PNC Capital Markets LLC, U.S. Bancorp Investments, Inc. and Scotia Capital (USA) Inc. are the joint bookrunners.

R. Seelaus & Co., LLC is a co-manager.

Proceeds will be used for general corporate purposes, including the repayment of the remaining $700 million of borrowings under the company’s term loan agreement, which matures on June 14, 2021, all or a portion of its outstanding $500 million 3.6% senior notes due 2021 and a portion of its outstanding commercial paper.

The public utility holding company is based in Houston.

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