CENTERPOINT ENERGY TRANSITION BOND CO LLC - FORM 8-K - EX-99.1 - October 3, 2013

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Exhibit 99.1

Semiannual Servicer’s Certificate

CenterPoint Energy Transition Bond Company, LLC (formerly Reliant Energy Transition Bond Company LLC)

$748,897,000 Transition Bonds, Series 2001-1

Pursuant to Section 6 of Annex 1 to the Transition Property Servicing Agreement (the “Agreement”), dated as of October 24, 2001, between CenterPoint Energy Houston Electric, LLC (formerly Reliant Energy, Incorporated), as Servicer, and CenterPoint Energy Transition Bond Company, LLC (formerly Reliant Energy Transition Bond Company 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: March 14, 2013 through September 13, 2013

Payment Date: September 16, 2013

Today’s Date: September 13, 2013

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

 

i.

   

Remittances for the March 14 through 31, 2013 Collection Period

      3,581,125.75   

ii.

   

Remittances for the April 1 through 30, 2013 Collection Period

      8,246,386.35   

iii.

   

Remittances for the May 1 through 31, 2013 Collection Period

      8,445,159.82   

iv.

   

Remittances for the June 1 through 30, 2013 Collection Period

      7,502,079.38   

v.

   

Remittances for the July 1 through 31, 2013 Collection Period

      10,779,073.85   

vi.

   

Remittances for the August 1 through 31, 2013 Collection Period

      11,325,974.64   

vii.

   

Remittances for the September 1 through 13, 2013 Collection Period

      5,439,918.49   

viii.

   

Net Earnings on Collection Account

   
  

    General Subaccount

      4,649.75   
  

    Overcollateralization Subaccount

      810.48   
  

    Capital Subaccount

      850.68   
  

    Reserve Subaccount

      4,600.45   
     

 

 

  

ix.

   

General Subaccount Balance (sum of i through viii above)

      55,330,629.64   

x.

   

Reserve Subaccount Balance as of Prior Payment Date

      22,253,652.77   

xi.

   

Overcollateralization Subaccount Balance as of Prior Payment Date

      3,588,464.79   

xii.

   

Capital Subaccount Balance as of Prior Payment Date

      3,744,485.00   
     

 

 

  

xiii.

   

Collection Account Balance (sum of ix through xii above)

      84,917,232.20   
     

 

 

  

2. Outstanding Amounts as of Prior Payment Date:

 

i.   

Class A-1 Principal Balance

      0.00   
ii.   

Class A-2 Principal Balance

      0.00   
iii.   

Class A-3 Principal Balance

      0.00   
iv.   

Class A-4 Principal Balance

      71,280,304.00   
     

 

 

  
v.   

Aggregate Principal Balance of all Series 2001-1 Transition Bonds

      71,280,304.00   
     

 

 

  

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

 

          Projected         
          Principal      Semiannual  
    

Series 2001-1 Principal

    Balance      Principal Due  

i.

   

Class A-1

      0.00         0.00   

ii.

   

Class A-2

      0.00         0.00   

iii.

   

Class A-3

      0.00         0.00   

iv.

   

Class A-4

      0.00         71,280,304.00   
     

 

 

     

 

 

  

v.

   

For all Series 2001-1 Transition Bonds

      0.00         71,280,304.00   
     

 

 

     

 

 

  

 

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

vi.

   

Required Class A-1 Interest

      3.840 %      180         0.00   

vii.

   

Required Class A-2 Interest

      4.760 %      180         0.00   

viii.

   

Required Class A-3 Interest

      5.160 %      180         0.00   

ix.

   

Required Class A-4 Interest

      5.630 %      180         2,006,540.56   

 

(1) On 30/360 Day basis.

                 Funding  
          Required Level      Required  

x.

   

Overcollateralization Subaccount

      3,744,485.00         156,020.21   

xi.

   

Capital Subaccount

      3,744,485.00         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

      187,224.25  (1) 

iii.

   

Administration Fee and Independent Managers Fee

      50,000.00  (2) 

iv.

   

Operating Expenses

      69,748.93  (3) 

v.

   

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

   
                Per 1,000  
                of Original  
   

Series 2001-1

    Aggregate      Principal Amount  
  1. Class A-1 Interest Payment      0.00         0.00   
  2. Class A-2 Interest Payment      0.00         0.00   
  3. Class A-3 Interest Payment      0.00         0.00   
  4. Class A-4 Interest Payment      2,006,540.56         5.20   

vi.

  

Principal Due and Payable as a result of Event of Default or on Final Maturity Date

      
                Per 1,000  
                of Original  
   

Series 2001-1

    Aggregate      Principal Amount  
  1. Class A-1 Principal Payment      0.00         0.00   
  2. Class A-2 Principal Payment      0.00         0.00   
  3. Class A-3 Principal Payment      0.00         0.00   
  4. Class A-4 Principal Payment      0.00         0.00   

vii.

  

Semiannual Principal

      
                Per 1,000  
                of Original  
   

Series 2001-1

    Aggregate      Principal Amount  
  1. Class A-1 Principal Payment      0.00         0.00   
  2. Class A-2 Principal Payment      0.00         0.00   
  3. Class A-3 Principal Payment      0.00         0.00   
  4. Class A-4 Principal Payment      71,280,304.00         184.71   

viii.

  

Amounts Payable to Credit Enhancement Providers (if applicable)

      N/A      

ix.

  

Operating Expenses not Paid under Clause (iv) above

      0.00      

x.

  

Funding of Capital Subaccount

      0.00      

xi.

  

Funding of Overcollateralization Subaccount

      156,020.21      

xii.

  

Net Earnings in Capital Subaccount Released to Issuer

      850.68      

xiii.

  

Deposit to Reserve Subaccount

      0.00      

xiv.

  

Released to Issuer upon Series Retirement: Collection Account

      11,322,563.78      
    

 

 

     

xv.

  

Aggregate Remittances as of Current Payment Date

      85,073,252.41      
    

 

 

     

 

(1) Servicing fee: $748,897,000 x .05% x 180/360 = $187,224.25
(2) Administration fee: $50,000 x 180/180 = $50,000.00; Independent Managers fee: $0
(3) Reimbursement to Administrator for fees/expenses paid to outside legal counsel, rating agency and independent accountants

5. Subaccount Withdrawals as of Current Payment Date

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

 

i.

   

Reserve Subaccount (available for 4.i. through 4.xii. and 4.xiv. )

      22,253,652.77   

ii.

   

Overcollateralization Subaccount (available for 4.i. through 4.ix. and 4.xiv.)

      3,744,485.00   

iii.

   

Capital Subaccount (available for 4.i. through 4.ix. and 4.xiv.)

      3,744,485.00   
     

 

 

  

iv.

   

Total Withdrawals

      29,742,622.77   
     

 

 

  

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 2001-1

       

i.

   

Class A-1 Principal Balance

      0.00   

ii.

   

Class A-2 Principal Balance

      0.00   

iii.

   

Class A-3 Principal Balance

      0.00   

iv.

   

Class A-4 Principal Balance

      0.00   
     

 

 

  

v.

   

Aggregate Principal Balance for all Series 2001-1 Transition Bonds

      0.00   
     

 

 

  

vi.

   

Reserve Subaccount Balance

      0.00   

vii.

   

Overcollateralization Subaccount Balance

      0.00   

viii.

   

Capital Subaccount Balance

      0.00   
     

 

 

  

ix.

   

Aggregate Collection Account Balance

      0.00   
     

 

 

  

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 2001-1

       
   1. Class A-1 Bond Interest Payment      0.00   
   2. Class A-2 Bond Interest Payment      0.00   
   3. Class A-3 Bond Interest Payment      0.00   
   4. Class A-4 Bond Interest Payment      0.00   

ii.

   

Semiannual Principal

   
    

Series 2001-1

       
   1. Class A-1 Principal Payment      0.00   
   2. Class A-2 Principal Payment      0.00   
   3. Class A-3 Principal Payment      0.00   
   4. Class A-4 Principal Payment      0.00   

8. Shortfalls in Required Subaccount Levels as of Current Payment Date

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

 

i.

   

Overcollateralization Subaccount

      0.00   

ii.

   

Capital Subaccount

      0.00   

IN WITNESS HEREOF, the undersigned has duly executed and delivered this Semiannual Servicer’s Certificate this 13th day of September, 2013.

 

CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC
(formerly RELIANT ENERGY, INCORPORATED), as Servicer
by:   /s/ Marc Kilbride
  Marc Kilbride
  Vice President and Treasurer

CENTERPOINT ENERGY TRANSITION BOND CO LLC Reports