EX-99.1 2 d499091dex991.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: October 14, 2022 through April 13, 2023

Payment Date: April 17, 2023

Today’s Date: April 13, 2023

 

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

 

    

    i.

    Remittances for the October 14 through 31, 2022 Collection Period     9,853,095.42      

    ii.

    Remittances for the November 1 through 30, 2022 Collection Period     16,501,370.18      

    iii.

    Remittances for the December 1 through 31, 2022 Collection Period     13,523,586.51      

    iv.

    Remittances for the January 1 through 31, 2023 Collection Period     12,305,827.36      

    v.

    Remittances for the February 1 through 28, 2023 Collection Period     10,738,541.35      

    vi.

    Remittances for the March 1 through 31, 2023 Collection Period     11,493,482.44      

    vii.

    Remittances for the April 1 through 13, 2023 Collection Period     5,260,349.94      

    viii.

    Net Earnings on General Subaccount     912,034.92       [10/1/22 through 3/31/23 ]   
    

 

 

      

    ix.

    General Subaccount Balance (sum of i through viii above)     80,588,288.12      
    

 

 

      

    x.

    Excess Funds Subaccount Balance as of Current Payment Date     28,832,440.97      

    xi.

    Capital Subaccount Balance as of Current Payment Date (1)     8,701,693.36      
    

 

 

      

    xii.

    Collection Account Balance (sum of ix through xi above)     118,122,422.45      
    

 

 

      

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

     317,625,610.00      
    

 

 

      

    iv.

   

Aggregate Principal Balance of all Series 2012 Transition Bonds

     317,625,610.00      
    

 

 

      

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

      
    

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

     240,503,153.00       77,122,457.00    
    

 

 

    

 

 

    

    iv.

   

For all Series 2012 Transition Bonds

     240,503,153.00       77,122,457.00    
    

 

 

    

 

 

    
         Transition
Bond
Interest Rate		     Days in
Interest
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       4,809,169.36  

 

(1)

Including current period earnings of $169,617.58

(2)

On 30/360 Day basis.

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Withdrawn for 4.i.-4.viii.)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

    viii.

    Capital Subaccount     8,701,693.36       0.00  

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

 

  

    i.

    Trustee Fees and Expenses     31,500.00    

    ii.

    Servicing Fee     423,750.00  (1)   

    iii.

    Administration Fee and Independent Manager Fee     53,500.00  (2)   

    iv.

    Operating Expenses     85,512.30  (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     0.00       0.00  
   2. Tranche A-2 Interest Payment     0.00       0.00  
   3. Tranche A-3 Interest Payment     4,809,169.36       7.06  

    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     0.00       0.00  
   2. Tranche A-2 Principal Payment     0.00       0.00  
   3. Tranche A-3 Principal Payment     77,122,457.00       113.21  

    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     82,525,888.66    
    

 

 

    
  

(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 + 3500 (Global Securization Invoice)

    
  

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

    
  

Outside counsel

     578.40    
  

Printing

     1,943.00    
  

Independent auditor

     52,240.90    
  

Rating Agencies

     30,750.00    
    

 

 

    
  

Total

     85,512.30    
    

 

 

    

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.)     1,937,600.54    

    iii.

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

 

 

    

    iv.

    Total Release or Withdrawals     1,937,600.54    
    

 

 

    

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     240,503,153.00    
    

 

 

    

    iv.

    Aggregate Principal Balance for all Series 2012 Transition Bonds     240,503,153.00    
    

 

 

    

    v.

    Excess Funds Subaccount Balance     26,894,840.43    

    vi.

    Capital Subaccount Balance     8,701,693.36    
    

 

 

    

    vii.

    Aggregate Collection Account Balance     35,596,533.79    
    

 

 

    

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 April, 2023.
  CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC, as Servicer
      by:       /s/ Brett Jerasa
    Brett Jerasa
    Assistant Treasurer