Deal Description: On August 4, 2023, CenterPoint Energy, Inc. (“CenterPoint”) (NYSE: CNP) announced the closing of its private offering and sale of $1,000,000,000 of 4.25% Convertible Senior Notes due 2026 (the “Convertible Notes”) to eligible purchasers pursuant to Rule 144A under the Securities Act of 1933, as amended. The Convertible Notes will be senior, unsecured obligations of CenterPoint and will mature on August 15, 2026, unless earlier converted or repurchased.

The net proceeds from the offering will be used for general corporate purposes, including the redemption of CenterPoint’s Series A preferred stock, after its call date, and repayment of a portion of CenterPoint’s outstanding commercial paper.

J.P. Morgan, Goldman Sachs & Co. LLC, Wells Fargo Securities, Barclays, Citigroup and Morgan Stanley served as joint bookrunners.

Baker Botts represented CenterPoint Energy in the above offering and has represented CenterPoint Energy and its predecessors for over 100 years.

Client: CenterPoint Energy, Inc.

Value: $1 billion

Baker Botts Lawyers/Office Involved:

• Corporate: Tim Taylor (Partner; Houston); Clint Rancher (Partner; Houston); Jamie Yarbrough (Partner; Houston); Michael Mazidi (Associate; Houston); Chandler Block (Associate; Houston); Sarah Dyer (Associate; Houston)
  
  

• Tax: Michael Bresson (Partner; Houston); Jared Meier (Senior Associate; Houston); Phillip Clifton (Associate; Houston)

ABOUT BAKER BOTTS L.L.P.
Baker Botts is an international law firm whose lawyers practice throughout a network of offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy, technology and life sciences sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit bakerbotts.com.