1STQUARTER 2022 DEBT AND LIQUIDITY
SCHEDULES
MAY 3, 2022
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 March 31, 2022 and December 31, 2021
($ in millions)
March 31, 2022
December 31, 2021
Short-term Debt:
Short-term borrowings
$
-
$ 7
Current portion of transition and system restoration bonds* Indexed debt (ZENS)**
182 220
9 10
Current portion of other long-term debt Long-term Debt:
1,582 308
Transition and system restoration bonds*
317 317
Other
11,789 15,241
Total Debt
$
13,879
$
16,103
Less: Transition and system restoration bonds (including current portion)*
499
537
Total Debt, excluding transition and system restoration bonds
Total Shareholders' Equity
Total Capitalization, excluding transition and system restoration bonds
$ $ $
13,380 9,951 23,331
$ $ $
15,566 9,415 24,981
Total Debt/Total Capitalization, excluding transition and system restoration bonds
57.3%
62.3%
* **
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 $9 million and $10 million, as of March 31, 2022 and December 31, 2021 respectively. The principal amount on which 2% interest is paid was $828 million on each of March 31, 2022 and December 31, 2021. The contingent principal amount was $33 million and $38 million as of March 31, 2022 and December 31, 2021, 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., Charter Communications, Inc, and Warner Brothers Discovery, Inc.
LIQUIDITY AND CREDIT RATINGS
(in millions)
Source of Liquidity on April 20, 2022
CenterPoint Energy, Inc. Revolver VUHI
$
CenterPoint Houston Electric, LLC Revolver CenterPoint Energy Resources Corp. Revolver Total Bank Facilities
Facility | Amount | |
Size | Amount Utilized1 | Unutilized |
2 3 4 5
2,400 $ 454
$
400 245
300 900
- 96
1,946 155 300 804
$
4,000
$
795
$
Investments in Money Market Funds Available Liquidity
3,205 -
$
3,205
1Based 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 20, 2022.
2Represents outstanding letters of credit of $11 million and outstanding commercial paper of $443 million.
3Represents outstanding letters of credit of $0 million, and outstanding commercial paper of $245 million.
4Represents outstanding letters of credit of $0 million and borrowings of $0 million.
5Represents outstanding letters of credit of $0 million and outstanding commercial paper of $96 million.
PRINCIPAL AMOUNTS OF EXTERNAL DEBT AS OF MARCH 31, 2022
Principal Amounts of External Debt
As of March 31, 2022
(in millions)
CenterPoint Energy, Inc.
ZENS
$
9
Senior Notes $ 3,050
Collateralized Pollution Control Bonds
$ 68
Commercial Paper $ 325
(1)
(2)
(3)
Bank Loans
TOTAL
$ $
- 3,452
CenterPoint Energy Resources Corp.
Senior Notes Commercial Paper Bank Loans
TOTAL
$ $ $ $
3,075 123 - 3,198
(4)
CenterPoint Energy Houston Electric, LLC
First Mortgage Bonds General Mortgage Bonds Bank Loans
Total
$ $ $ $
- 5,812 - 5,812
(5)
CenterPoint Energy Restoration
Bond Company, LLC
Restoration Bonds
$
31
CenterPoint Energy Transition
Bond Company, IV, LLC
Transition Bonds
$
468
Vectren Utility Holdings, Inc.
Senior Notes |
Guaranteed Senior Notes |
Commercial Paper |
Bank Loans |
$ | 377 | |
$ | 260 | |
$ | - | |
Total | $ | 637 |
Indiana Gas Co. | ||
$ | 96 |
(6)
On Mar 31, 2022, the principal amount on which 2% interest is payable was $828 million, the debt
(1)component reflected on the financial statements was $9 million and the contingent principal amount was $33 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)
(4)
(5)
(6)
Borrowings under $2.4 billion bank facility. Borrowings under $900 million bank facility. Borrowings under $300 million bank facility. Borrowings under $400 million bank facility.
PRINCIPAL AMOUNTS OF MATURING EXTERNAL DEBT AS OF MARCH 31, 2022
CenterPoint Energy, Inc.
Principal Amounts of Maturing External Debt
As of March 31, 2022
($ in millions)
CenterPointYear2022
Energy
(1)
CEHE
CERC
VUHI
IGC
SIGECO
-
300
-
2023-20272,025
(3)
800
(6)
1,398
(5)
2028-20321,151
(4)
700
800
2033-2037
2038-2042
2043-2047
2048-2052
2053-2057
2058+ Total
- - - 300 - -
312
400
500
300
600
300
2,600
-
-
-
-
-- 377 - 75 135 50 - - -
(7)
- 36 60
-
64
80
- - - - - -
22
22
62
-
38
-
$
3,476
$
5,812
$
3,198
$
637
$
96
$
288
Transition & System Restoration
Bonds
182
318
-
-
-
-
-
-
-
$
499
(2)
(1) Debt collateralized by General Mortgage Bonds of CenterPoint Energy Houston Electric, LLC (CEHE) matures on the following dates: 2028, $68 million.
(2) Using scheduled payment dates.
(3) Includes commercial paper of $325 million and bank borrowings of $0 million.
Includes ZENS at their contingent principal amount of $33 million. As of March 31, 2022, the principal amount of ZENS on which interest is paid was $828 million and the ZENS debt component reflected on the Company's
(4)financial statements was $9 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.
(5) Includes commercial paper of $123 million.
(6) Includes bank borrowings of $0 million.
(7) Includes commercial paper of $260 million and bank borrowings of $0 million.
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CenterPoint Energy Inc. published this content on 03 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 May 2022 03:32:07 UTC.