Company Overview of Centerpoint Energy Resources Corp.
CenterPoint Energy Resources Corp., together with its subsidiaries, owns and operates natural gas distribution systems in the United States. Its Natural Gas Distribution segment engages in intrastate natural gas sales and transportation for approximately 3.3 million residential, commercial, and industrial customers in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. This segment also provides services consisting of heating, ventilating, and air conditioning (HVAC) equipment and appliance repair, as well as sale of HVAC, hearth, and water heating equipment; owns and operates an underground natural gas storage facility with a capacity of seven billion cubic feet; and owns appr...
Houston, TX 77002
Key Executives for Centerpoint Energy Resources Corp.
Chief Financial Officer and Executive Vice President
Chief Operating Officer and Executive Vice President
Chief Executive Officer of Texas Genco and President of Texas Genco
President of CenterPoint Energy Pipeline & Field Services Group and Chief Operating Officer of CenterPoint Energy Pipeline & Field Services Group
Compensation as of Fiscal Year 2012.
Centerpoint Energy Resources Corp. Key Developments
CenterPoint Energy, Inc. and Centerpoint Energy Resources Corp. Enter into First Amendment to Credit Agreement
Apr 15 13
CenterPoint Energy, Inc., JPMorgan Chase Bank, N.A., as administrative agent, and the banks party thereto entered into a first amendment to credit agreement to CenterPoint’s $1,200,000,000 Credit Agreement, dated as of September 9, 2011, and (b) CenterPoint’s wholly owned subsidiary, CenterPoint Energy Resources Corp., Citibank, N.A., as administrative agent, and the banks party thereto entered into a first amendment to credit agreement to CERC’s $950,000,000 credit agreement, dated as of September 9, 2011. The amendments amend the credit agreements to add exceptions to each borrower’s covenants restricting (i) the consolidation, merger or disposal of assets and (ii) the sale of stock in certain significant subsidiaries, in each case to permit the transactions contemplated by CenterPoint’s previously announced midstream joint venture transaction with OGE Energy Corp. and two affiliates of ArcLight Capital Partners, LLC.
CenterPoint Energy, Inc., Centerpoint Energy Houston Electric, LLC and Centerpoint Energy Resources Corp. Close Credit Facilities Totaling $2.45 Billion
Sep 9 11
CenterPoint Energy, Inc. announced that it closed three revolving bank credit facilities totaling $2.45 billion for the parent and its wholly-owned subsidiaries, CenterPoint Energy Houston Electric, LLC (CEHE) and CenterPoint Energy Resources Corp. (CERC), which replaced their existing revolving credit facilities. The three revolving five-year senior unsecured credit facilities include: $1.2 billion at CenterPoint Energy; $300 million at CEHE, the company's electric transmission and distribution subsidiary; and $950 million at CERC, the company's natural gas distribution, pipelines and field services subsidiary. Based on current credit ratings, the CenterPoint Energy facility has a drawn cost of LIBOR plus 175 basis points, and the CEHE facility and CERC facility each have a drawn cost of LIBOR plus 150 basis points. These revolving credit facilities may be drawn on from time to time to provide funds used for general corporate purposes of the companies and to support commercial paper. The facilities may also be utilized to obtain letters of credit.
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