CenterPoint Energy subsidiary closes on low-cost securitization bonds to recover Hurricane Ike restoration costs

“Issued at very favorable interest rates averaging 3.72 percent (on a time weighted basis), these low-cost storm recovery bonds are expected to save consumers approximately $417 million over the next 13 years compared to traditional ratemaking carrying costs of 11.075 percent,” said Marc Kilbride, vice president and treasurer for CenterPoint Energy. “We appreciate the leadership and support of Governor Perry and members of the Texas Legislature for enacting this new legislation that enabled us to issue these bonds as well as the hard work of Chairman Smitherman, PUC members and staff for getting these bonds to market quickly on such favorable terms.”

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