EX-99.1 2 d211373dex991.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 14, 2021 through October 13, 2021

Payment Date: October 15, 2021

Today’s Date: October 13, 2021

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

 

 

i.

  

Remittances for the April 14 through 30, 2021 Collection Period

     6,366,104.14        
 

ii.

  

Remittances for the May 1 through 31, 2021 Collection Period

     11,834,066.28        
 

iii.

  

Remittances for the June 1 through 30, 2021 Collection Period

     14,096,981.52        
 

iv.

  

Remittances for the July 1 through 31, 2021 Collection Period

     15,161,467.63        
 

v.

  

Remittances for the August 1 through 31, 2021 Collection Period

     16,755,911.93        
 

vi.

  

Remittances for the September 1 through 30, 2021 Collection Period

     18,155,592.86        
 

vii.

  

Remittances for the October 1 through 13, 2021 Collection Period

     7,238,969.62        
 

viii.

  

Net Earnings on General Subaccount

     5,376.98        [4/1/21 through 9/30/21]     
       

 

 

       
 

ix.

  

General Subaccount Balance (sum of i through viii above)

     89,614,470.96        
       

 

 

       
 

x.

  

Excess Funds Subaccount Balance as of Current Payment Date

     2,630,042.39        
 

xi.

  

Capital Subaccount Balance as of Current Payment Date (1)

     8,737,562.85        
       

 

 

       
 

xii.

  

Collection Account Balance (sum of ix through xi above)

     100,982,076.20        
       

 

 

       

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

     541,291,778.00        
       

 

 

       
 

iv.

  

Aggregate Principal Balance of all Series 2012 Transition Bonds

     541,291,778.00        
       

 

 

       

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

 

 

              Projected                
              Principal      Semiannual         
        

Principal

   Balance      Principal Due         
 

i.

  

Tranche A-1

     0.00        0.00     
 

ii.

  

Tranche A-2

     0.00        0.00     
 

iii.

  

Tranche A-3

     467,999,251.00        73,292,527.00     
       

 

 

    

 

 

    
 

iv.

  

For all Series 2012 Transition Bonds

     467,999,251.00        73,292,527.00     
       

 

 

    

 

 

    
              Transition      Days in         
              Bond      Interest         
              Interest Rate      Period (2)      Interest Due  
 

v.

  

Required Tranche A-1 Interest

     0.9012      180        0.00  
 

vi.

  

Required Tranche A-2 Interest

     2.1606      180        0.00  
 

vii.

  

Required Tranche A-3 Interest

     3.0282      180        8,195,698.81  
 

(1)   Including current period earnings of $1,198.74

    

 

(2)   On 30/360 Day basis.

    


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

     13,302.93  (3)   
 

v.

  

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

    
                    Per 1,000  
                    of Original  
              Aggregate     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

     8,195,698.81       12.03  
 

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  
    

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

    
                    Per 1,000  
                    of Original  
              Aggregate     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

     73,292,527.00       107.58  
 

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

     -7,639,192.22    
 

xiii.

  

Released to Issuer upon Series Retirement: Collection Account

     0.00    
       

 

 

   
 

xiv.

  

Aggregate Remittances as of Current Payment Date

     74,336,086.52    
       

 

 

   
    

(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

    
    

(3)   Reimbursement to Administrator for fees/expenses paid as follows:

    
    

Outside counsel

     1,500.00    
    

Printing

     1,540.00    
    

Independent auditor

     10,262.93    
    

Rating Agencies

     0.00    
       

 

 

   
    

Total

     13,302.93    
       

 

 

   


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.)

     0.00  
 

iii.

  

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

     0.00  
       

 

 

 
 

iv.

  

Total Release or 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):

 

 

i.

  

Tranche A-1 Principal Balance

     0.00  
 

ii.

  

Tranche A-2 Principal Balance

     0.00  
 

iii.

  

Tranche A-3 Principal Balance

     467,999,251.00  
       

 

 

 
 

iv.

  

Aggregate Principal Balance for all Series 2012 Transition Bonds

     467,999,251.00  
       

 

 

 
 

v.

  

Excess Funds Subaccount Balance

     10,269,234.61  
 

vi.

  

Capital Subaccount Balance

     8,737,562.85  
       

 

 

 
 

vii.

  

Aggregate Collection Account Balance

     19,006,797.46  
       

 

 

 

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

     0.00  
  IN WITNESS HEREOF, the undersigned has duly executed and delivered this

 

  Semiannual Servicer’s Certificate this 13th day of October, 2021.

 

  CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC, as Servicer

 

 

  by:  

/s/ Brett Jerasa

    Brett Jerasa
    Assistant Treasurer