3RD QUARTER 2021 DEBT AND LIQUIDITY SCHEDULES
NOVEMBER 4, 2021
DEBT AND CAPITALIZATION RATIOS
EXCLUDING TRANSITION AND SYSTEM
RESTORATION BONDS
CenterPoint Energy, Inc. Debt and Capitalization Ratios
Excluding Transition and System Restoration Bonds
As of September 30, 2021 and December 31, 2020 | ||||||
($ in millions) | September 30, | December 31, | ||||
Short-term Debt: | 2021 | 2020 | ||||
Short-term borrowings | $ | 7 | $ | 24 | ||
Current portion of transition and system restoration bonds* | 217 | 211 | ||||
Indexed debt (ZENS)** | 11 | 15 | ||||
Current portion of other long-term debt | 863 | 1,669 | ||||
Long-term Debt: | ||||||
Transition and system restoration bonds* | 393 | 536 | ||||
Other | 15,001 | 10,985 | ||||
Total Debt | $ | 16,492 | $ | 13,440 | ||
Less: Transition and system restoration bonds (including current portion)* | 610 | 747 | ||||
Total Debt, excluding transition and system restoration bonds | $ | 15,882 | $ | 12,693 | ||
Total Shareholders' Equity | $ | 8,865 | $ | 8,348 | ||
Total Capitalization, excluding transition and system restoration bonds | $ | 24,747 | $ | 21,041 | ||
Total Debt/Total Capitalization, excluding transition and system restoration bonds | 64.2% | 60.3% |
- The transition and system restoration bonds are serviced with dedicated revenue streams, and the bonds are non-recourse to CenterPoint Energy and CenterPoint Energy Houston Electric.
- The debt component reflected on the financial statements was $11 million and $15 million, as of September 30, 2021 and December 31, 2020 respectively. The principal amount on which 2% interest is paid was $828 million on each of September 30, 2021 and December 31, 2020. The contingent principal amount was $42 million and $56 million as of September 30, 2021 and December 31, 2020, respectively. At maturity or upon redemption, holders of ZENS will receive cash at the higher of the contingent principal amount or the value of the reference shares of AT&T Inc. and Charter Communications, Inc.
Note: Amounts may not add up due to rounding
2
LIQUIDITY AND CREDIT RATINGS
(in millions) | Facility | Amount Utilized1 | Amount | |||||
Source of Liquidity on October 21, 2021 | Size | Unutilized | ||||||
CenterPoint Energy, Inc. Revolver | $ | 2,400 | $ | 1,175 | 2 | $ | 1,225 | |
VUHI | 400 | $ | 265 | 3 | 135 | |||
CenterPoint Houston Electric, LLC Revolver | 300 | - | 4 | 300 | ||||
CenterPoint Energy Resources Corp. Revolver | 900 | 715 | 5 | 185 | ||||
Total Bank Facilities | $ | 4,000 | $ | 2,155 | $ | 1,845 | ||
Investments in Money Market Funds | - | |||||||
Available Liquidity | $ | 1,845 |
- Based on the consolidated debt to capitalization covenant in the CenterPoint Energy, Inc. revolving credit facility and the revolving credit facility of each of VUHI, CenterPoint Energy Houston Electric, LLC and CenterPoint Energy Resources Corp., the full capacity of such revolving credit facilities, which aggregated $4.0 billion, could have been utilized at April 29, 2021
- Represents outstanding letters of credit of $11 million and outstanding commercial paper of $1,164 million.
- Represents outstanding letters of credit of $0 million, and outstanding commercial paper of $265 million.
- Represents outstanding letters of credit of $0 million and borrowings of $0 million.
- Represents outstanding letters of credit of $0 million and outstanding commercial paper of $716 million.
Note: Amounts may not add up due to rounding
3
PRINCIPAL AMOUNTS OF EXTERNAL DEBT
AS OF SEPTEMBER 30, 2021
Principal Amounts of External Debt
As of September 30, 2021
(in millions)
CenterPoint Energy, Inc. | |||||||||||||||||||||||
ZENS | $ | 11 | (1) | ||||||||||||||||||||
Senior Notes | $ | 4,150 | |||||||||||||||||||||
Collateralized Pollution Control Bonds | $ | 68 | (2) | ||||||||||||||||||||
Commercial Paper | $ | 1,143 | |||||||||||||||||||||
Bank Loans | $ | - | (3) | ||||||||||||||||||||
TOTAL | $ | 5,372 | |||||||||||||||||||||
CenterPoint Energy Resources Corp. | CenterPoint Energy Houston Electric, LLC | Vectren Utility | Holdings, Inc. | ||||||||||||||||||||
Senior Notes | $ | 3,800 | First Mortgage Bonds | $ | - | Guaranteed Senior Notes | $ | 432 | |||||||||||||||
Commercial Paper | $ | 686 | General Mortgage Bonds | $ | 5,012 | Commercial Paper | $ | 285 | |||||||||||||||
Bank Loans | $ | - | (4) | Bank Loans | $ | - | (5) | Bank Loans | $ | - | (6) | ||||||||||||
TOTAL | $ | 4,486 | Total | $ | 5,012 | Total | $ | 717 | |||||||||||||||
CenterPoint Energy Restoration | |||||||||||||||||||||||
Bond Company, LLC | Indiana Gas Co. | Southern Indiana Gas & Electric Co. | |||||||||||||||||||||
Restoration Bonds | $ | 69 | Senior Notes | $ | 96 | First Mortgage Bonds | $ | 293 | |||||||||||||||
On Sep 30, 2021, the principal amount on which 2% interest is payable was $828 million, the debt | |||||||||||||||||||||||
CenterPoint Energy Transition | |||||||||||||||||||||||
Bond Company, IV, LLC | (1) | component reflected on the financial statements was $11 million and the contingent principal amount | |||||||||||||||||||||
Transition Bonds | $ | 541 | was $42 million. | ||||||||||||||||||||
The $68 million principal amount of collateralized pollution control bonds are obligations of CenterPoint | |||||||||||||||||||||||
(2) | Energy, Inc. which are collateralized by general mortgage bonds issued by CenterPoint Energy Houston | ||||||||||||||||||||||
Electric, LLC. | |||||||||||||||||||||||
(3) | Borrowings under $2.4 billion bank facility. | ||||||||||||||||||||||
(4) | Borrowings under $900 million bank facility. | ||||||||||||||||||||||
(5) | Borrowings under $300 million bank facility. | ||||||||||||||||||||||
(6) | Borrowings under $400 million bank facility. |
Note: Amounts may not add up due to rounding
4
PRINCIPAL AMOUNTS OF MATURING EXTERNAL DEBT AS OF SEPTEMBER 30, 2021
CenterPoint Energy, Inc.
Principal Amounts of Maturing External Debt
As of September 30, 2021
($ in millions) | ||
CenterPoint | ||
Year | Energy | |
2021 | - | |
2022-2026 | 3,593 | |
2027-2031 | 1,510 | |
2032-2036 | - | |
2037-2041 | - | |
2042-2046 | - | |
2047-2051 | 300 | |
2052-2056 | - | |
2057+ | - | |
Total | $ | 5,403 |
Transition | ||||||||||||||||||||||||||
& System | ||||||||||||||||||||||||||
(1) | Restoration | (2) | ||||||||||||||||||||||||
CEHE | CERC | VUHI | IGC | SIGECO | Sub-total | Bonds | Total | |||||||||||||||||||
(3) | - | (6) | - | (5) | 55 | (7) | - | - | 55 | 73 | 128 | |||||||||||||||
800 | 2,686 | 402 | 10 | 68 | 7,559 | 537 | 8,096 | |||||||||||||||||||
(4) | 700 | 800 | - | 86 | 80 | 3,176 | - | 3,176 | ||||||||||||||||||
312 | - | 75 | - | - | 387 | - | 387 | |||||||||||||||||||
- | 700 | 35 | - | 44 | 779 | - | 779 | |||||||||||||||||||
1,100 | - | 150 | - | 62 | 1,312 | - | 1,312 | |||||||||||||||||||
2,100 | 300 | - | - | - | 2,700 | - | 2,700 | |||||||||||||||||||
- | - | - | - | 38 | 38 | - | 38 | |||||||||||||||||||
- | - | - | - | - | - | - | - | |||||||||||||||||||
$ | 5,012 | $ | 4,486 | $ | 717 | $ | 96 | $ | 293 | $ | 16,007 | $ | 611 | $ | 16,618 |
- Debt collateralized by General Mortgage Bonds of CenterPoint Energy Houston Electric, LLC (CEHE) matures on the following dates: 2028, $68 million.
- Using scheduled payment dates.
-
Includes commercial paper of $1,143 million and bank borrowings of $0 million.
Includes ZENS at their contingent principal amount of $42 million. As of September 30, 2021, the principal amount of ZENS on which interest is paid was $828 million and the ZENS debt component reflected on the - Company's financial statements was $11 million. At maturity or upon redemption, holders of ZENS will receive cash at the higher of the contingent principal amount or the value of the reference shares of AT&T Inc. and Charter Communications, Inc.
- Includes commercial paper of $686 million and bank borrowings of $0 million.
- Includes commerical paper of $0 million and bank borrowings of $0 million.
- Includes commercial paper of $285 million and bank borrowings of $0 million.
Note: Amounts may not add up due to rounding
5
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CenterPoint Energy Inc. published this content on 04 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 November 2021 21:50:38 UTC.