CenterPoint Energy to pay additional interest on 2% ZENS notes

By Wendy Van Sickle

Columbus, Ohio, June 22 – 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 $26.875 per note will be paid on July 17 to holders of record as of the close of business on July 2.

The additional payment reflects cash distributed in respect of the reference shares attributable to one ZENS note in connection with the AT&T Inc. and Time Warner Inc. merger, which closed on June 14, according to a press release.

The additional interest per note was calculated as the product of 0.5 shares of Time common stock per note and the $53.75 per share cash merger consideration paid to holders of Time common stock, according to a press release.

After closing of the merger, the reference shares for each ZENS note now consist of 0.7185 share of Time Warner Inc. common stock and 0.061382 share of Charter Communications, Inc. common stock.

CenterPoint is an energy delivery company based in Houston.

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