CenterPoint Energy Houston Electric LLC sold $400 million of its 3.95% series AB general mortgage bonds due March 1, 2048, for general limited liability company purposes.
In 2018, the CenterPoint Energy Inc. utility anticipates capital spending of $949 million in support of sustained industrial, commercial and residential customer growth, according to a Feb. 27 prospectus.
The bonds have a spread to benchmark Treasury of 82 basis points and were expected to be rated A1 by Moody's, A by S&P Global Ratings and A+ by Fitch Ratings. Interest on the bonds is payable semiannually March 1 and Sept. 1, starting Sept. 1, according to a Feb. 26 free writing prospectus.
Mizuho Securities USA LLC, RBC Capital Markets LLC, Wells Fargo Securities LLC, Regions Securities LLC, TD Securities (USA) LLC and U.S. Bancorp Investments Inc. acted as joint book-running managers.
Comerica Securities Inc. and PNC Capital Markets LLC served as senior co-managers. Blaylock Van LLC and Loop Capital Markets LLC were the co-managers.
S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.
