8-KMaterial AgreementsExhibits & Filings

CENTERPOINT ENERGY INC 8-K Report, Material Agreement (Sep 10, 2014)

Filed September 10, 2014For Securities:CNP

Summary

CenterPoint Energy, Inc. (CNP) filed an 8-K on September 10, 2014, to report on material definitive agreements related to amendments to its credit facilities. Specifically, the company and its subsidiaries, CenterPoint Energy Houston Electric, LLC (CEHE) and CenterPoint Energy Resources Corp. (CERC), entered into amendments with their respective administrative agents and banks. These amendments primarily serve to extend the maturity dates of the credit agreements. For CenterPoint Energy, Inc. and CERC, the third amendments extend the maturity from September 9, 2018, to September 9, 2019. For CEHE, the second amendment also extends the maturity date by one year. While the total commitments under each credit agreement remain unchanged, the amendments do involve a reduction in the swingline and letter of credit sub-facilities.

Key Highlights

  • 1CenterPoint Energy, Inc. (CNP) amended its credit agreement, extending the maturity date to September 9, 2019.
  • 2Subsidiaries CenterPoint Energy Houston Electric, LLC (CEHE) and CenterPoint Energy Resources Corp. (CERC) also amended their respective credit agreements, with extended maturity dates.
  • 3The amendments collectively extend the maturity of the credit facilities by one year, from September 9, 2018, to September 9, 2019.
  • 4The total credit commitments under the agreements remain unchanged.
  • 5The amendments include a reduction in the swingline and letter of credit sub-facilities for all three credit agreements.
  • 6The filing provides transparency regarding the company's debt structure and its ongoing management of financial agreements.
  • 7These actions indicate a proactive approach to managing the company's liquidity and debt profile.

Frequently Asked Questions

The primary purpose of these amendments is to extend the maturity date of the credit facilities by one year, from September 9, 2018, to September 9, 2019. This provides CenterPoint Energy and its subsidiaries with extended access to credit.

No, the total credit commitments under each of the credit agreements remained unchanged. The amendments primarily affected the maturity date and certain sub-facilities.

The reduction in swingline and letter of credit sub-facilities means that the availability for specific short-term borrowing (swingline) and the issuance of letters of credit under these credit lines has decreased. However, the overall credit capacity remains the same.

The amendments affect CenterPoint Energy, Inc. itself, as well as its indirect, wholly-owned subsidiaries CenterPoint Energy Houston Electric, LLC (CEHE) and CenterPoint Energy Resources Corp. (CERC).