EX-99.1 2 d508801dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

Semiannual Servicer’s Certificate

CenterPoint Energy Transition Bond Company II, LLC

$1,851,000,000 Series A Transition Bonds

Pursuant to Section 6 of Annex 1 to the Transition Property Servicing Agreement (the “Agreement”), dated as of December 16, 2005, between CenterPoint Energy Houston Electric, LLC, as Servicer, and CenterPoint Energy Transition Bond Company II, LLC, as Issuer, the Servicer does hereby certify as follows:

Capitalized terms used in this Semiannual Servicer’s Certificate have their respective meanings as set forth in the Agreement. References herein to certain sections and subsections are references to the respective sections and subsections of the Agreement.

Collection Periods: July 29, 2017 through January 30, 2018

Payment Date: February 1, 2018

Today’s Date: January 30, 2018

 

1. Collections Allocable and Aggregate Amounts Available for Current Payment Date:

 

 

i.

    Remittances for the July 29 through 31, 2017 Collection Period     626,316.12      
 

ii.

    Remittances for the August 1 through 31, 2017 Collection Period     22,852,789.95      
 

iii.

    Remittances for the September 1 through 30, 2017 Collection Period     22,723,776.30      
 

iv.

    Remittances for the October 1 through 31, 2017 Collection Period     22,850,517.50      
 

v.

    Remittances for the November 1 through 30, 2017 Collection Period     20,104,242.66      
 

vi.

    Remittances for the December 1 through 31, 2017 Collection Period     16,495,499.05      
 

vii.

    Remittances for the January 1 through 30, 2018 Collection Period     15,374,540.75      
 

viii.

    Net Earnings on Collection Account       [7/1/17 through 12/31/17 ]   
     General Subaccount     304,574.02      
     Capital Subaccount     44,215.05      
     Excess Funds Subaccount     140,828.67      
      

 

 

      
 

ix.

   

General Subaccount Balance (sum of i through viii above)

     121,517,300.07      
      

 

 

      
 

x.

    Excess Funds Subaccount Balance as of Prior Payment Date     30,062,984.12      
 

xi.

   

Capital Subaccount Balance as of Prior Payment Date (1)

     9,255,000.00      
      

 

 

      
 

xii.

   

Collection Account Balance (sum of ix through xi above)

     160,835,284.19      
      

 

 

      
    

(1) Net of unreleased earnings shown in 1.viii.

      

2. Outstanding Amounts as of Prior Payment Date:

 

 

i.

   

Tranche A-1 Principal Balance

     0.00      
 

ii.

   

Tranche A-2 Principal Balance

     0.00      
 

iii.

   

Tranche A-3 Principal Balance

     0.00      
 

iv.

   

Tranche A-4 Principal Balance

     0.00      
 

v.

   

Tranche A-5 Principal Balance

     401,924,376.00      
      

 

 

      
 

vi.

    Aggregate Principal Balance of all Series A Transition Bonds     401,924,376.00      
      

 

 

      

3. Required Funding/Payments as of Current Payment Date:

 

        

Series A Principal

   Projected
Principal
Balance		     Semiannual
Principal Due		        
 

i.

   

Tranche A-1

     0.00       0.00    
 

ii.

   

Tranche A-2

     0.00       0.00    
 

iii.

   

Tranche A-3

     0.00       0.00    
 

iv.

   

Tranche A-4

     0.00       0.00    
 

v.

   

Tranche A-5

     296,111,800.00       105,812,576.00    
      

 

 

    

 

 

    
 

vi.

   

For all Series A Transition Bonds

     296,111,800.00       105,812,576.00    
      

 

 

    

 

 

    
             Transition
Bond
Interest Rate		     Days in
Interest
Period (1)		     Interest Due  
 

vii.

   

Required Tranche A-1 Interest

     4.840 %      180       0.00  
 

viii.

   

Required Tranche A-2 Interest

     4.970 %      180       0.00  
 

ix.

   

Required Tranche A-3 Interest

     5.090 %      180       0.00  
 

x.

   

Required Tranche A-4 Interest

     5.170 %      180       0.00  
 

xi.

   

Required Tranche A-5 Interest

     5.302 %      180       10,655,015.21  
    

(1) On 30/360 Day basis.

      
             Required Level     Funding
Required		        
 

xii.

   

Capital Subaccount

     9,255,000.00       0.00    

4. Allocation of Remittances as of Current Payment Date Pursuant to Section 8.02(d) of Indenture:

 

 

i.

   

Trustee Fees and Expenses

     0.00      
 

ii.

   

Servicing Fee

     462,750.00 (1)     
 

iii.

   

Administration Fee and Independent Managers Fee

     52,500.00 (2)     
 

iv.

   

Operating Expenses

     74,118.97 (3)     
 

v.

    Semiannual Interest (including any past-due Semiannual Interest for prior periods)      

        

Series A

   Aggregate     Per 1,000
of Original
Principal Amount		        
    

1. Tranche A-1 Interest Payment

     0.00       0.00    
    

2. Tranche A-2 Interest Payment

     0.00       0.00    
    

3. Tranche A-3 Interest Payment

     0.00       0.00    
    

4. Tranche A-4 Interest Payment

     0.00       0.00    
    

5. Tranche A-5 Interest Payment

     10,655,015.21       23.06    
 

vi.

    Principal Due and Payable as a result of (A) Event of Default or (B) on Final Maturity Date      
        

Series A

   Aggregate     Per 1,000
of Original
Principal Amount		        
    

1. Tranche A-1 Principal Payment

     0.00       0.00    
    

2. Tranche A-2 Principal Payment

     0.00       0.00    
    

3. Tranche A-3 Principal Payment

     0.00       0.00    
    

4. Tranche A-4 Principal Payment

     0.00       0.00    
    

5. Tranche A-5 Principal Payment

     0.00       0.00    
     (C) Principal Scheduled to be Paid on Current Payment Date      
        

Series A

   Aggregate     Per 1,000
of Original
Principal Amount		        
     1. Tranche A-1 Principal Payment     0.00       0.00    
     2. Tranche A-2 Principal Payment     0.00       0.00    
     3. Tranche A-3 Principal Payment     0.00       0.00    
     4. Tranche A-4 Principal Payment     0.00       0.00    
     5. Tranche A-5 Principal Payment     105,812,576.00       229.03    
 

vii.

    Amounts Payable to Credit Enhancement Providers (if applicable)     N/A      
 

viii.

    Operating Expenses not Paid under Clause (iv) above     0.00      
 

ix.

    Funding of Capital Subaccount     0.00      
 

x.

    Net Earnings in Capital Subaccount Released to Issuer     44,215.05      
 

xi.

    Deposit to Excess Funds Subaccount     4,275,296.17      
 

xii.

    Released to Issuer upon Series Retirement: Collection Account     0.00      
      

 

 

      
 

xiii.

    Aggregate Remittances as of Current Payment Date     121,376,471.40      
      

 

 

      
     (1) Servicing fee: $1,851,000,000 x 0.05% x 180/360 = $462,750.00      
     (2) Administration fee: $100,000 x 180/360 = $50,000.00; Independent Managers fee: $2,500.00      
     (3) Reimbursement to Administrator for fees/expenses paid to outside legal counsel ($0.00), printer ($695.00),    
     independent public accountant ($50,300.00), rating agency ($0.00) and L/C issuing bank ($23,123.97)      

5. Subaccount Withdrawals as of Current Payment Date

 

(if applicable, pursuant to Section 8.02(d) of Indenture):

 

 

i.

    Excess Funds Subaccount (available for 4.i. through 4.ix.)     0.00      
 

ii.

    Capital Subaccount (available for 4.i. through 4.viii.)     0.00      
      

 

 

      
 

iii.

    Total Withdrawals     0.00      
      

 

 

      

6. Outstanding Amounts and Collection Account Balance as of Current Payment Date

 

(after giving effect to payments to be made on such Payment Date):

 

   
        

Series A

                  
 

i.

    Tranche A-1 Principal Balance     0.00      
 

ii.

    Tranche A-2 Principal Balance     0.00      
 

iii.

    Tranche A-3 Principal Balance     0.00      
 

iv.

    Tranche A-4 Principal Balance     0.00      
 

v.

    Tranche A-5 Principal Balance     296,111,800.00      
      

 

 

      
 

vi.

    Aggregate Principal Balance for all Series A Transition Bonds     296,111,800.00      
      

 

 

      
 

vii.

    Excess Funds Subaccount Balance     34,479,108.96      
 

viii.

    Capital Subaccount Balance     9,255,000.00      
      

 

 

      
 

ix.

    Aggregate Collection Account Balance     43,734,108.96      
      

 

 

      

7. Shortfalls In Interest and Principal Payments as of Current Payment Date

 

(after giving effect to payments to be made on such Payment Date):

 

 

i.

    Semiannual Interest      
        

Series A

                  
     1. Tranche A-1 Bond Interest Payment     0.00      
     2. Tranche A-2 Bond Interest Payment     0.00      
     3. Tranche A-3 Bond Interest Payment     0.00      
     4. Tranche A-4 Bond Interest Payment     0.00      
     5. Tranche A-5 Bond Interest Payment     0.00      
 

ii.

    Semiannual Principal      
        

Series A

                  
     1. Tranche A-1 Principal Payment     0.00      
     2. Tranche A-2 Principal Payment     0.00      
     3. Tranche A-3 Principal Payment     0.00      
     4. Tranche A-4 Principal Payment     0.00      
     5. Tranche A-5 Principal Payment     0.00      

8. Shortfall in Required Subaccount Level as of Current Payment Date

 

(after giving effect to payments to be made on such Payment Date):

 

 

i.

    Capital Subaccount     0.00      

IN WITNESS HEREOF, the undersigned has duly executed and delivered this Semiannual Servicer’s Certificate this 30th day of January, 2018.

 

CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC, as Servicer
by:   /s/ Robert B. McRae
  Robert B. McRae
  Assistant Treasurer