CenterPoint Energy Inc. sold $500 million of its 2.50% senior notes due Sept. 1, 2022, to repay a portion of outstanding commercial paper and for general corporate purposes.

As of June 30, the company had $970 million of commercial paper borrowings, according to an Aug. 7 prospectus.

Interest is payable semiannually on March 1 and Sept. 1, starting March 1, 2018. The notes have a spread to benchmark Treasury of 70 basis points. The issue was expected to be rated Baa1 by Moody's, BBB+ by S&P Global Ratings and BBB by Fitch Ratings.

Barclays Capital Inc., Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC and MUFG Securities Americas Inc. acted as joint book-running managers. TD Securities (USA) LLC served as the sole senior co-manager, while Evercore Group LLC and Samuel A. Ramirez & Co. Inc. served as co-managers.

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