Summary
CenterPoint Energy, Inc. (CNP), through its wholly-owned subsidiary Vectren Capital, Corp. (VCC), has announced the redemption of its outstanding 4.53% Guaranteed Senior Notes, Series B due December 15, 2025, and its 3.33% Guaranteed Senior Notes, Series A, due December 15, 2022. A total of $9,000,000 in aggregate principal amount of these notes will be redeemed in full. This action indicates a move by CenterPoint Energy to refinance or reduce its outstanding debt obligations. Investors holding these specific notes should be aware of the redemption details and their implications for their investment.
Key Highlights
- 1Vectren Capital, Corp. (VCC), a subsidiary of CenterPoint Energy, Inc., is redeeming its senior notes.
- 2The redemption applies to $6,000,000 of 4.53% Guaranteed Senior Notes, Series B due 2025.
- 3The redemption also applies to $3,000,000 of 3.33% Guaranteed Senior Notes, Series A, due 2022.
- 4The total principal amount being redeemed is $9,000,000.
- 5The redemption date is set for December 30, 2019.
- 6The redemption price includes the principal amount, accrued interest, and any applicable make-whole premium.
Frequently Asked Questions
CenterPoint Energy, through its subsidiary Vectren Capital, Corp., is redeeming (calling for early repayment) two series of its senior notes: the 4.53% notes due in 2025 and the 3.33% notes due in 2022. This means the company is paying back these debts before their scheduled maturity dates.
The company is redeeming a total of $9,000,000 in aggregate principal amount. This consists of $6,000,000 of the 2025 notes and $3,000,000 of the 2022 notes.
The notes are scheduled to be redeemed in full on December 30, 2019.
Noteholders will receive 100% of the principal amount of their notes, plus any interest that has accrued up to, but not including, the redemption date. They may also receive a 'make-whole premium,' which is an additional amount designed to compensate investors for the early redemption.