Deal Description: On February 23, 2023, CenterPoint Energy Resources Corp., an indirect, wholly-owned subsidiary of CenterPoint Energy, Inc. (NYSE: CNP), announced the closing of its offering and sale of $600 million of 5.25% senior notes due 2028 and $600 million of 5.40% senior notes due 2033. The net proceeds from the offering will be used for general corporate purposes, including the repayment of (i) all or a portion of its outstanding $700 million of 0.700% Senior Notes due 2023; (ii) all or a portion of its outstanding $575 million of Floating Rate Senior Notes due 2023; and (iii) a portion of its outstanding commercial paper.
Mizuho, Scotiabank, TD Securities, Truist Securities, US Bancorp, BNY Mellon Capital Markets, LLC, Citigroup, Comerica Securities and PNC Capital Markets LLC served as joint bookrunners. Academy Securities and Loop Capital Markets served as co-managers.
CenterPoint Energy Resources Corp. directly owns and operates natural gas distribution facilities in Louisiana, Minnesota, Mississippi and Texas, and indirectly owns and operates natural gas distribution facilities in Indiana and Ohio through Indiana Gas Company, Inc. and Vectren Energy Delivery of Ohio, LLC. Additionally, CenterPoint Energy Resources Corp. owns and operates permanent pipeline connections through interconnects with various interstate and intrastate pipeline companies through its subsidiary CenterPoint Energy Intrastate Pipelines, LLC.
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 (Senior Associate; Houston); Rob Cowan (Associate; Houston); Sarah Dyer (Associate; Houston)
- Finance: Clint Culpepper (Partner; Austin);
- Tax: Jon Lobb (Partner; Houston)
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