Baker Botts Represents CenterPoint Energy Resources Corp. in $500 Million Offering of Senior Notes
Deal Description: On June 9, 2022, CenterPoint Energy Resources Corp., an indirect, wholly-owned subsidiary of CenterPoint Energy, Inc. (NYSE: CNP), announced the closing of its offering and sale of $500 million of 4.40% senior notes due 2032. The net proceeds from the offering will be used for general corporate purposes, including to repay intercompany debt owed to CenterPoint Energy.
BofA Securities, Goldman Sachs & Co. LLC, PNC Capital Markets LLC, U.S. Bancorp and Comerica Securities served as representatives and joint bookrunners. Bancroft Capital and Siebert Williams Shank served as co-managers.
CenterPoint Energy Resources Corp. owns and operates natural gas distribution systems in four states, with operating subsidiaries that (i) own and operate permanent pipeline connections through interconnects with various interstate and intrastate pipeline companies and (ii) provide temporary delivery of liquefied natural gas and compressed natural gas throughout the contiguous 48 states.
Client: CenterPoint Energy Resources Corp.
Outside Counsel to the Underwriters: Hunton Andrews Kurth LLP
Baker Botts Lawyers/Office Involved:
- Corporate: Tim Taylor (Partner; Houston); Clint Rancher (Partner; Houston); Josh Gonzales (Associate; Houston); Rob Cowan (Associate; Houston)
- Tax: Mike Bresson (Partner; Houston); Josh Mandell (Partner; Dallas); Jon Lobb (Partner; Houston); Jared Meier (Senior Associate; Houston)
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