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CenterPoint Energy Houston Electric selling $700M of bonds

CenterPoint Energy Houston Electric LLC priced an offering of $700 million of its 4.250% general mortgage bonds due Feb. 1, 2049. The transaction is expected to settle Jan. 15.

The bonds have a spread to benchmark Treasury of 122 basis points. CenterPoint Energy Houston Electric intends to use the proceeds for general limited liability company purposes, including capital expenditures.

Mizuho Securities USA LLC, PNC Capital Markets LLC, Regions Securities LLC, TD Securities (USA) LLC and U.S. Bancorp Investments Inc. are acting as joint book-running managers of the offering. C.L. King & Associates Inc., Drexel Hamilton LLC, Evercore Group LLC, Samuel A. Ramirez & Co. Inc. and Williams Capital Group LP are serving as co-managers.

CenterPoint Energy Houston Electric is a subsidiary of CenterPoint Energy Inc.