CenterPoint, subsidiaries upsize with $2.5 billion revolvers due 2021

By Wendy Van Sickle

Columbus, Ohio, March 4 – CenterPoint Energy, Inc. and subsidiaries CenterPoint Energy Houston Electric, LLC and CenterPoint Energy Resources Corp. refinanced their revolving credit facilities with new five-year facilities totaling $2.5 billion, according to a press release.

The new credit agreements provide for senior unsecured revolving credit facilities totaling $1.6 billion for the parent, $300 million for CenterPoint Energy Houston and $600 million for CenterPoint Energy Resources.

They replace $2.1 billion of revolving facilities that were due to mature in 2019.

The new agreements were coordinated by J.P. Morgan Securities LLC, Mizuho Bank, Ltd. and Wells Fargo Securities, LLC, which were joined as lead arrangers by Bank of America Merrill Lynch, Citigroup Global Markets Inc., Bank of Tokyo-Mitsubishi UFJ, Ltd. and Royal Bank of Canada.

Administrative agents are J.P. Morgan Chase Bank, NA for the parent’s facility, Mizuho Bank, Ltd. for the CenterPoint Energy Houston facility and Wells Fargo Bank, NA for the CenterPoint Energy Resources facility.

Proceeds will be used for general corporate purposes and to backstop the companies’ commercial paper programs. The facilities may also be used to obtain letters of credit.

CenterPoint is an electric utility based in Houston.

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