CenterPoint Energy Inc. closed its investment in about 14.5 million units of 10% Series A preferred units representing limited partner interests in Enable Midstream Partners LP, CenterPoint said Feb. 18.
The units were priced at $25 each, and Enable redeemed about $363 million of notes payable to subsidiary CenterPoint Energy Resources Corp. These notes will mature in 2017.
CenterPoint used the proceeds from the redemption for its investment in Enable's preferred units, and expects the transaction to be accretive to its earnings.
CenterPoint Energy Inc. is based in Houston. Enable Midstream Partners LP is based in Oklahoma City.