CenterPoint Energy, Inc. announced the pricing of its offering of $900 million aggregate principal amount of its 3.00% Convertible Senior Notes due 2028. The notes were offered in a private placement to qualified institutional buyers, with the sale expected to close on July 31, 2025.
CenterPoint also granted the initial purchasers an option to purchase up to an additional $100 million aggregate principal amount of convertible notes. The notes will bear interest at a rate of 3.00% per year, payable semiannually.
The initial conversion rate for the convertible notes will be 21.4477 shares of common stock per $1,000 principal amount, equivalent to an initial conversion price of approximately $46.63 per share. CenterPoint expects net proceeds of approximately $888.1 million, which it intends to use for general corporate purposes, including the repayment of outstanding commercial paper and other debt.
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