EX-99.1 2 d615002dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

Semiannual Servicer’s Certificate

CenterPoint Energy Transition Bond Company IV, LLC

$1,695,000,000 2012 Senior Secured Transition Bonds

Pursuant to Section 6.13 of the Transition Property Servicing Agreement (the “Agreement”), dated as of January 19, 2012, between CenterPoint Energy Houston Electric, LLC, as Servicer, and CenterPoint Energy Transition Bond Company IV, 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: April 12, 2013 through October 10, 2013

Payment Date: October 15, 2013

Today’s Date: October 10, 2013

 

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

        
  i.   

Remittances for the April 12 through 30, 2013 Collection Period

      4,861,611.10        
  ii.   

Remittances for the May 1 through 31, 2013 Collection Period

      10,077,653.69        
  iii.   

Remittances for the June 1 through 30, 2013 Collection Period

      9,023,271.39        
  iv.   

Remittances for the July 1 through 31, 2013 Collection Period

      13,512,115.56        
  v.   

Remittances for the August 1 through 31, 2013 Collection Period

      14,451,842.52        
  vi.   

Remittances for the September 1 through 30, 2013 Collection Period

      13,365,226.37        
  vii.   

Remittances for the October 1 through 10, 2013 Collection Period

      6,004,202.70        
  viii.   

Net Earnings on General Subaccount

      4,143.08         [4/1/13 through 9/30/13]   
       

 

 

       
  ix.   

General Subaccount Balance (sum of i through viii above)

      71,300,066.41        
       

 

 

       
  x.   

Excess Funds Subaccount Balance as of Current Payment Date

      1,249,428.30         [as of 9/30/13]     
  xi.   

Capital Subaccount Balance as of Current Payment Date (1)

      8,480,356.73         [as of 9/30/13]     
       

 

 

       
  xii.   

Collection Account Balance (sum of ix through xi above)

      81,029,851.44        
       

 

 

       
    

(1)    Including current period earnings of $1,400.94

        

2. Outstanding Amounts as of Prior Payment Date:

        
  i.   

Tranche A-1 Principal Balance

      485,437,360.00        
  ii.   

Tranche A-2 Principal Balance

      407,516,000.00        
  iii   

Tranche A-3 Principal Balance

      681,262,000.00        
       

 

 

       
  iv.   

Aggregate Principal Balance of all Series 2012 Transition Bonds

      1,574,215,360.00        
       

 

 

       

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

        
        

Principal

    Projected
Principal
Balance		      Semiannual
Principal Due		        
  i.   

Tranche A-1

      426,390,623.00         59,046,737.00     
  ii.   

Tranche A-2

      407,516,000.00         0.00     
  iii.   

Tranche A-3

      681,262,000.00         0.00     
       

 

 

     

 

 

    
  iv.   

For all Series 2012 Transition Bonds

      1,515,168,623.00         59,046,737.00     
       

 

 

     

 

 

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

Required Tranche A-1 Interest

      0.9012%         180        2,187,380.74   
  vi.   

Required Tranche A-2 Interest

      2.1606%         180        4,402,395.35   
  vii.   

Required Tranche A-3 Interest

      3.0282%         180        10,314,987.94   

(1)    On 30/360 Day basis.

        

              Required Level
(Including Replenishment
of Amounts Previously
Withdrawn for 4.i.-4.viii.)		     Funding
Required		  
  viii.   

Capital Subaccount

      8,475,000.00        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

      423,750.00  (1)   
  iii.   

Administration Fee and Independent Manager Fee

      50,000.00  (2)   
  iv.   

Operating Expenses

      75,283.93  (3)   
  v.   

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

     
              Aggregate     Per 1,000
of Original
Principal Amount		  
    

1. Tranche A-1 Interest Payment

      2,187,380.74        3.61   
    

2. Tranche A-2 Interest Payment

      4,402,395.35        10.80   
    

3. Tranche A-3 Interest Payment

      10,314,987.94        15.14   
  vi.   

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

     
              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   
  vii.   

Principal Scheduled to be Paid on Current Payment Date

     
              Aggregate     Per 1,000
of Original
Principal Amount		  
    

1. Tranche A-1 Principal Payment

      59,046,737.00        97.40   
    

2. Tranche A-2 Principal Payment

      0.00        0.00   
    

3. Tranche A-3 Principal Payment

      0.00        0.00   
  viii.   

Operating Expenses not Paid under Clause (iv) above

      0.00     
  ix.   

Replenishment of Any Amounts Drawn from Capital Subaccount

      0.00     
  x.   

Amount Calculated at Servicer’s Authorized Rate of Return on Equity on the Amount Contributed to the Capital Subaccount in Excess of 0.5% of the Initial Outstanding Principal Balance of the Bonds Released to Issuer

      NA     
  xi.   

Net Earnings in Capital Subaccount Relating to the Initial Contribution of 0.5% of the Initial Outstanding Principal Balance of the Bonds Released to Issuer

      0.00     
  xii.   

Deposit to Excess Funds Subaccount

      0.00     
  xiii.   

Released to Issuer upon Series Retirement: Collection Account

      0.00     
       

 

 

    
  xiv.   

Aggregate Remittances as of Current Payment Date

      76,500,534.96     
       

 

 

    

 

  (1) Servicing fee: $1,695,000,000 x .05% x 180/360 = $423,750.00
  (2) Administration fee: $100,000 x 180/360 = $50,000.00 plus Independent Manager fee ($0.00)
  (3) Reimbursement to Administrator for fees/expenses paid to independent auditors ($69,613.93) and outside counsel ($5,670.00)

5. Subaccount Release or Withdrawals as of Current Payment Date Pursuant to Section 8.02(d) of Indenture:

      
  i.   

Capital Subaccount Release (available for 4.xi.)

      0.00      
  ii.   

Excess Funds Subaccount Withdrawal (available for 4.i. through 4.x.)

      1,249,428.30      
  iii.   

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

      3,951,040.25      
       

 

 

     
  iv.   

Total Release or Withdrawals

      5,200,468.55      
       

 

 

     

6. Outstanding Amounts and Collection Account Balance as of Current Payment Date
(after giving effect to payments to be made on such Payment Date):

      
  i.   

Tranche A-1 Principal Balance

      426,390,623.00      
  ii.   

Tranche A-2 Principal Balance

      407,516,000.00      
  iii.   

Tranche A-3 Principal Balance

      681,262,000.00      
       

 

 

     
  iv.   

Aggregate Principal Balance for all Series 2012 Transition Bonds

      1,515,168,623.00      
       

 

 

     
  v.   

Excess Funds Subaccount Balance

      0.00      
  vi.   

Capital Subaccount Balance

      4,529,316.48      
       

 

 

     
  vii.   

Aggregate Collection Account Balance

      4,529,316.48      
       

 

 

     

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

      
    

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      
  ii.   

Semiannual Principal

      
    

1. Tranche A-1 Principal Payment

      0.00      
    

2. Tranche A-2 Principal Payment

      0.00      
    

3. Tranche A-3 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

      3,951,040.25      

IN WITNESS HEREOF, the undersigned has duly executed and delivered this Semiannual Servicer’s Certificate this 10th day of October, 2013.

CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC, as Servicer
by:  

/s/ Linda Geiger

  Linda Geiger
  Assistant Treasurer