Attached files
| file | filename |
|---|---|
| 8-K - FORNM 8-K - CenterPoint Energy Transition Bond CO II, LLC | d668611d8k.htm |
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, 2013 through January 30, 2014
Payment Date: February 3, 2014
Today’s Date: January 30, 2014
| 1. Collections Allocable and Aggregate Amounts Available for Current Payment Date: |
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| i. Remittances for the July 31, 2013 Collection Period |
1,439,763.56 |
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| ii. Remittances for the August 1 through 31, 2013 Collection Period |
20,726,181.97 | |||||
| iii. Remittances for the September 1 through 30, 2013 Collection Period |
19,090,679.20 | |||||
| iv. Remittances for the October 1 through 31, 2013 Collection Period |
22,980,945.86 | |||||
| v. Remittances for the November 1 through 30, 2013 Collection Period |
16,285,571.65 | |||||
| vi. Remittances for the December 1 through 31, 2013 Collection Period |
15,755,146.06 | |||||
| vii. Remittances for the January 1 through 30, 2014 Collection Period |
13,968,352.93 | |||||
| viii. Net Earnings on Collection Account |
[through 12/31/13] | |||||
| General Subaccount |
4,684.42 | |||||
| Capital Subaccount |
15,014.08 | |||||
| Excess Funds Subaccount |
1,003.70 | |||||
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|
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| ix. General Subaccount Balance (sum of i through viii above) |
110,267,343.43 | |||||
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| x. Excess Funds Subaccount Balance as of Prior Payment Date |
11,594,333.80 | |||||
| xi. Capital Subaccount Balance as of Prior Payment Date (1) |
9,255,000.00 | |||||
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|
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| xii. Collection Account Balance (sum of ix through xi above) |
131,116,677.23 | |||||
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| (1) Net of unreleased earnings moved into General Subaccount |
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| 2. Outstanding Amounts as of Prior Payment Date: |
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| i. Tranche A-1 Principal Balance |
0.00 | |||||
| ii. Tranche A-2 Principal Balance |
0.00 | |||||
| iii. Tranche A-3 Principal Balance |
76,210,864.00 | |||||
| iv. Tranche A-4 Principal Balance |
519,000,000.00 | |||||
| v. Tranche A-5 Principal Balance |
462,000,000.00 | |||||
|
|
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| vi. Aggregate Principal Balance of all Series A Transition Bonds |
1,057,210,864.00 | |||||
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| 3. Required Funding/Payments as of Current Payment Date: |
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| Series A 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 |
0.00 | 76,210,864.00 | ||||
| iv. Tranche A-4 |
513,249,049.00 | 5,750,951.00 | ||||
| v. Tranche A-5 |
462,000,000.00 | 0.00 | ||||
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| vi. For all Series A Transition Bonds |
975,249,049.00 | 81,961,815.00 | ||||
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| Transition Bond Interest Rate |
Days in Interest Period (1) |
Interest Due | ||||
| vii. Required Tranche A-1 Interest |
4.840% | 180 | 0.00 | |||
| viii. Required Tranche A-2 Interest |
4.970% | 180 | 0.00 | |||
| ix. Required Tranche A-3 Interest |
5.090% | 180 | 1,939,566.49 | |||
| 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. |
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| Required Level |
Funding | |||||
| 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 |
50,000.00 | (2) | ||||||||
| iv. Operating Expenses |
47,563.58 | (3) | ||||||||
| v. Semiannual Interest (including any past-due Semiannual Interest for prior periods) |
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| Series A |
Aggregate |
Per 1,000 |
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| 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 |
1,939,566.49 | 7.70 | ||||||||
| 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 |
| |||||||||
| Series A |
Aggregate |
Per 1,000 |
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| 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 |
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| Series A |
Aggregate |
Per 1,000 |
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| 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 |
76,210,864.00 | 302.42 | ||||||||
| 4. Tranche A-4 Principal Payment |
5,750,951.00 | 11.08 | ||||||||
| 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 |
17,014.08 | |||||||||
| xi. Deposit to Excess Funds Subaccount |
124,864.28 | |||||||||
| xii. Released to Issuer upon Series Retirement: Collection Account |
0.00 | |||||||||
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| xiii. Aggregate Remittances as of Current Payment Date |
110,267,343.43 | |||||||||
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| (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: $0.00 |
| (3) | Reimbursement to Administrator for fees/expenses paid to outside legal counsel ($4,780.00), independent public accountant ($16,800.00), printer ($400.00) and L/C issuing bank ($25,583.58) |
| 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.) |
0.00 | |||||
| ii. Capital Subaccount (available for 4.i. through 4.viii.) |
0.00 | |||||
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| iii. Total Withdrawals |
0.00 | |||||
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| 6. Outstanding Amounts and Collection Account Balance as of Current Payment Date |
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| (after giving effect to payments to be made on such Payment Date): |
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| Series A | ||||||
| i. Tranche A-1 Principal Balance |
0.00 | |||||
| ii. Tranche A-2 Principal Balance |
0.00 | |||||
| iii. Tranche A-3 Principal Balance |
0.00 | |||||
| iv. Tranche A-4 Principal Balance |
513,249,049.00 | |||||
| v. Tranche A-5 Principal Balance |
462,000,000.00 | |||||
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|
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| vi. Aggregate Principal Balance for all Series A Transition Bonds |
975,249,049.00 | |||||
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| vii. Excess Funds Subaccount Balance |
11,719,198.08 | |||||
| viii. Capital Subaccount Balance |
9,255,000.00 | |||||
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| ix. Aggregate Collection Account Balance |
20,974,198.08 | |||||
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| 7. Shortfalls In Interest and Principal Payments as of Current Payment Date |
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| (after giving effect to payments to be made on such Payment Date): |
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| i. Semiannual Interest |
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| Series A |
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| 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 |
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| Series A |
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| 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 |
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| (after giving effect to payments to be made on such Payment Date): |
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| i. Capital Subaccount |
0.00 | |||||
| IN WITNESS HEREOF, the undersigned has duly executed and delivered this Semiannual Servicer’s Certificate this 30th day of January, 2014. | ||||
| CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC, as Servicer | ||||
| by: |
/s/ Linda Geiger |
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| Linda Geiger | ||||||
| Assistant Treasurer | ||||||