EX-99.1 2 h69620exv99w1.htm EX-99.1 exv99w1
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 31, 2009 through January 28, 2010
Payment Date: February 1, 2010
Today’s Date: January 28, 2010
1. Collections Allocable and Aggregate Amounts Available for Current Payment Date:
                 
i.
   Remittances for the July 31, 2009 Collection Period     1,010,552.98      
ii.
   Remittances for the August 1 through 31, 2009 Collection Period     18,438,136.65      
iii.
   Remittances for the September 1 through 30, 2009 Collection Period     21,089,902.03      
iv.
   Remittances for the October 1 through 31, 2009 Collection Period     19,126,487.65      
v.
   Remittances for the November 1 through 30, 2009 Collection Period     14,730,689.78      
vi.
   Remittances for the December 1 through 31, 2009 Collection Period     15,864,374.82      
vii.
   Remittances for the January 1 through 28, 2010 Collection Period     11,468,605.88      
viii.
   Net Earnings on Collection Account           [through 12/31/09]
 
  
General Subaccount
     43,233.51      
 
  
Capital Subaccount
     280,997.17      
 
  
Excess Funds Subaccount
     649.33      
 
              
ix.
   General Subaccount Balance (sum of i through viii above)     102,053,629.80      
 
              
 
                
x.
   Excess Funds Subaccount Balance as of Prior Payment Date     20,985.41      
xi.
   Capital Subaccount Balance as of Prior Payment Date (1)     9,255,000.00      
 
              
xii.
   Collection Account Balance (sum of ix through xi above)     111,329,615.21      
 
              
 
(1)   Net of unreleased earnings moved into General Subaccount
2. Outstanding Amounts as of Prior Payment Date:
                 
i.
   Tranche A-1 Principal Balance     0.00      
ii.
   Tranche A-2 Principal Balance     317,117,443.00      
iii.
   Tranche A-3 Principal Balance     252,000,000.00      
iv.
   Tranche A-4 Principal Balance     519,000,000.00      
v.
   Tranche A-5 Principal Balance     462,000,000.00      
 
              
vi.
   Aggregate Principal Balance of all Series A Transition Bonds     1,550,117,443.00      
 
              
3. Required Funding/Payments as of Current Payment Date:
                     
        Projected        
        Principal     Semiannual  
        Balance     Principal Due  
 
   Series A Principal                
 
                    
i.
   Tranche A-1     0.00       0.00  
ii.
   Tranche A-2     253,934,484.00       63,182,959.00  
iii.
   Tranche A-3     252,000,000.00       0.00  
iv.
   Tranche A-4     519,000,000.00       0.00  
v.
   Tranche A-5     462,000,000.00       0.00  
 
                
vi.
   For all Series A Transition Bonds     1,486,934,484.00       63,182,959.00  
 
                
                             
        Transition     Days in        
        Bond     Interest        
        Interest Rate     Period (1)     Interest Due  
 
                            
vii.
   Required Tranche A-1 Interest     4.840 %     180       0.00  
viii.
   Required Tranche A-2 Interest     4.970 %     180       7,880,368.46  
ix.
   Required Tranche A-3 Interest     5.090 %     180       6,413,400.00  
x.
   Required Tranche A-4 Interest     5.170 %     180       13,416,150.00  
xi.
   Required Tranche A-5 Interest     5.302 %     180       12,247,620.00  
 
(1)   On 30/360 Day basis.

 

 

                     
                Funding  
        Required Level     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     67,163.90 (3)
v.
   Semiannual Interest (including any past-due Semiannual Interest for prior periods)        
                     
                Per 1,000  
                of Original  
        Aggregate     Principal Amount  
 
   Series A                
 
                    
 
   1. Tranche A-1 Interest Payment     0.00       0.00  
 
   2. Tranche A-2 Interest Payment     7,880,368.46       21.41  
 
   3. Tranche A-3 Interest Payment     6,413,400.00       25.45  
 
   4. Tranche A-4 Interest Payment     13,416,150.00       25.85  
 
   5. Tranche A-5 Interest Payment     12,247,620.00       26.51  
 
                    
vi.
   Principal Due and Payable as a result of (A) Event of Default or (B) on Final Maturity Date            
                     
                Per 1,000  
                of Original  
        Aggregate     Principal Amount  
 
   Series A                
 
                    
 
   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                
                     
                Per 1,000  
                of Original  
        Aggregate     Principal Amount  
 
   Series A                
 
                    
 
   1. Tranche A-1 Principal Payment     0.00       0.00  
 
   2. Tranche A-2 Principal Payment     63,182,959.00       171.69  
 
   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  
 
                    
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     0.00          
xi.
   Deposit to Excess Funds Subaccount     0.00          
xii.
   Released to Issuer upon Series Retirement: Collection Account     0.00          
 
                  
xiii.
   Aggregate Remittances as of Current Payment Date     103,722,911.36          
 
                  
 
(1)   Servicing fee: $1,851,000,000 x .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 ($9,093.00), independent public accountant ($30,000.00), printer ($425.70), rating agencies ($17,500.00) and L/C issuing bank ($10,145.20)

 

 

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.)     20,985.41  
ii.
   Capital Subaccount (available for 4.i. through 4.viii.)     1,648,296.15  
 
          
iii.
   Total Withdrawals     1,669,281.56  
 
          
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     253,934,484.00  
iii.
   Tranche A-3 Principal Balance     252,000,000.00  
iv.
   Tranche A-4 Principal Balance     519,000,000.00  
v.
   Tranche A-5 Principal Balance     462,000,000.00  
 
          
vi.
   Aggregate Principal Balance for all Series A Transition Bonds     1,486,934,484.00  
 
          
 
            
vii.
   Excess Funds Subaccount Balance     0.00  
viii.
   Capital Subaccount Balance     7,606,703.85  
 
          
ix.
   Aggregate Collection Account Balance     7,606,703.85  
 
          
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     1,648,296.15  
         
IN WITNESS HEREOF, the undersigned has duly executed and delivered this Semiannual Servicer’s Certificate this 28th day of January, 2010. CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC, as Servicer
 		    
by:   /s/ Linda Geiger    
  Linda Geiger   
  Assistant Treasurer