CenterPoint, unit amend facilities' covenants to permit joint venture

By Marisa Wong

Madison, Wis., April 15 - CenterPoint Energy, Inc. amended its $1.2 billion credit agreement dated Sept. 9, 2011 with JPMorgan Chase Bank, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

In addition, CenterPoint's wholly owned subsidiary, CenterPoint Energy Resources Corp. amended its $950 million credit agreement dated Sept. 9, 2011 with Citibank, NA as administrative agent.

CenterPoint and its subsidiary amended their credit facilities to add exceptions to covenants restricting the consolidation, merger or disposal of assets and the sale of stock in some subsidiaries.

Specifically, the amendments allow transactions related to CenterPoint's previously announced midstream joint venture transaction with OGE Energy Corp. and two affiliates of ArcLight Capital Partners, LLC.

The amendments were completed on April 11.

CenterPoint is a Houston-based energy delivery company.

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