CenterPoint Energy Inc. (CNP) announced its purchase on January 5, of three series of pollution control bonds that had been issued on its behalf by the Brazos River Authority in 1998.
The three series, totaling $290 million in aggregate principal amount and bearing interest at 5.125%, were purchased at 101% of their principal amount plus accrued interest pursuant to the mandatory tender provisions of the bonds.
Gary Whitlock, CFO, said, "CenterPoint Energy's purchase of the bonds reduces temporary investments and leverage while providing the company with the flexibility to finance future capital needs in the tax-exempt market through a remarketing of the bonds".
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