Baker Botts Represents CenterPoint Energy, Inc. in $500 Million Offering of Junior Subordinated Notes
Deal Description: On October 31, 2024, CenterPoint Energy, Inc. (NYSE: CNP) (“CenterPoint Energy”) announced the closing of its underwritten public offering and sale of $500 million aggregate principal amount of 6.700% Fixed-to-Fixed Reset Rate Junior Subordinated Notes, Series C, due 2055. CenterPoint Energy intends to use the net proceeds from the offering for general corporate purposes, including the repayment of a portion of its outstanding commercial paper.
J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, BofA Securities, Inc., Citigroup Global Markets Inc., Wells Fargo Securities, LLC and BMO Capital Markets Corp. served as joint bookrunners.
As the only investor owned electric and gas utility based in Texas, CenterPoint Energy is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Indiana, Louisiana, Minnesota, Mississippi, Ohio and Texas.
Baker Botts represented CenterPoint Energy in the above offering and has represented CenterPoint Energy and its predecessors for over 100 years.
Client: CenterPoint Energy, Inc.
Outside Counsel to the Underwriters: Hunton Andrews Kurth LLP
Value: $500 million
Baker Botts Lawyers/Office Involved:
- Corporate: Tim Taylor (Partner; Houston); Clint Rancher (Partner; Houston); Parker Hinman (Senior Associate; Houston); Sarah Dyer (Associate; Houston); Jack Hennessy (Associate; Houston)
- Tax: Michael Bresson (Partner; Houston); Jared Meier (Senior Associate; Houston)
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