CenterPoint Energy to pay additional interest on 2% ZENS notes

By Marisa Wong

Morgantown, W.Va., May 25 – CenterPoint Energy, Inc. said it will make an additional interest payment on its 2% zero-premium exchangeable subordinated notes (ZENS) due 2029.

Additional interest of $12.5505 per note will be paid on June 20 to holders of record as of the close of business on June 6.

The additional payment is in connection with the Charter Communications, Inc. and Time Warner Cable Inc. merger that closed on May 18, according to a press release.

The amount of additional interest was calculated as the product of 0.125505 share of Time Warner Cable common stock per note and the $100-per-share cash merger consideration.

After closing of the merger, the reference shares for each ZENS note consists of 0.5 shares of Time Warner Inc. common stock, 0.0625 shares of Time Inc. common stock and 0.061382 shares of Charter Communications common stock.

CenterPoint is an energy delivery company based in Houston.

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