CenterPoint Energy closes $1B convertible note offering at 4.25% with ~25% conversion premium

CENTERPOINT ENERGY INC

Net proceeds of ~$985.3M after underwriting discounts and expenses.
Initial conversion price ~$36.86/share, 25% premium over Aug 1, 2023 closing price.
Up to 33.9M shares may be issued upon conversion based on initial max conversion rate.
Notes mature Aug 15, 2026; interest payable semiannually at 4.25% starting Feb 15, 2024.
Company cannot redeem notes early; holders may convert under conditions before May 15, 2026.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CENTERPOINT ENERGY INC entered into Indenture with The Bank of New York Mellon Trust Company, National Association valued at $1,000,000,000 aggregate principal amount (effective 2023-08-04).

Action: entry
Agreement: notes offering
Counterparty: The Bank of New York Mellon Trust Company, National Association
Value: $1,000,000,000 aggregate principal amount
Effective: 2023-08-04

Exact text from the filing

The Company issued the Notes pursuant to an Indenture (the “Indenture”), dated as of August 4, 2023 by and between the Company and The Bank of New York Mellon Trust Company, National Association, as trustee (the “Trustee”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CENTERPOINT ENERGY INC entered into Purchase Agreement with the initial purchasers (effective 2023-08-01).

Action: entry
Agreement: underwriting
Counterparty: the initial purchasers
Effective: 2023-08-01

Exact text from the filing

The Notes were sold under a purchase agreement (the “Purchase Agreement”) dated August 1, 2023 among the Company and the initial purchasers (the “Initial Purchasers”) party thereto.

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CENTERPOINT ENERGY INC filing history →

Source: SEC EDGAR

accession 0001193125-23-203904

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