CenterPoint Energy Transition Bond CO II, LLC - FORM 8-K - EX-99.1

CenterPoint Energy Transition Bond CO II, LLC - FORM 8-K - EX-99.1 - August 6, 2015

Attached files

Attached files

file	filename
8-K - 8-K - CenterPoint Energy Transition Bond CO II, LLC	d17005d8k.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: January 30, 2015 through July 30, 2015

Payment Date: August 3, 2015

Today’s Date: July 30, 2015

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


i.	Remittances for the January 30, 2015 Collection Period	332,073.69
ii.	Remittances for the February 1 through 28, 2015 Collection Period	15,491,075.47
iii.	Remittances for the March 1 through 31, 2015 Collection Period	16,607,709.14
iv.	Remittances for the April 1 through 30, 2015 Collection Period	16,567,516.39
v.	Remittances for the May 1 through 31, 2015 Collection Period	14,946,626.51
vi.	Remittances for the June 1 through 30, 2015 Collection Period	17,996,510.16
vii.	Remittances for the July 1 through 30, 2015 Collection Period	20,070,962.52
viii.	Net Earnings on Collection Account		[1/1/15 through 6/30/15	]
	General Subaccount	8,711.58
	Capital Subaccount	1,537.69
	Excess Funds Subaccount	2,384.66

ix.	General Subaccount Balance (sum of i through viii above)	102,025,107.81


x.	Excess Funds Subaccount Balance as of Prior Payment Date	14,670,660.83
xi.	Capital Subaccount Balance as of Prior Payment Date	9,255,000.00

xii.	Collection Account Balance (sum of ix through xi above)	125,950,768.64

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	0.00
iv.	Tranche A-4 Principal Balance	360,804,209.00
v.	Tranche A-5 Principal Balance	462,000,000.00

vi.	Aggregate Principal Balance of all Series A Transition Bonds	822,804,209.00

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


	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		0.00
iv.	Tranche A-4		290,434,163.00		70,370,046.00
v.	Tranche A-5		462,000,000.00		0.00

vi.	For all Series A Transition Bonds		752,434,163.00		70,370,046.00


		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		0.00
x.	Required Tranche A-4 Interest		5.170	%		180		9,326,788.80
xi.	Required Tranche A-5 Interest		5.302	%		180		12,247,620.00

(1)	On 30/360 Day basis.


		Required Level		Funding Required

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		2,500.00
ii.	Servicing Fee		462,750.00	(1)
iii.	Administration Fee and Independent Managers Fee		50,000.00	(2)
iv.	Operating Expenses		44,138.07	(3)
v.	Semiannual Interest (including any past-due Semiannual Interest for prior periods)
	Series A	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		0.00			0.00
	4. Tranche A-4 Interest Payment		9,326,788.80			17.97
	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 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
	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

	Series A	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
	4. Tranche A-4 Principal Payment		70,370,046.00			135.59
	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		1,537.69
xi.	Deposit to Excess Funds Subaccount		9,519,727.25
xii.	Released to Issuer upon Series Retirement: Collection Account		0.00

xiii.	Aggregate Remittances as of Current Payment Date		102,025,107.81

(1)	Servicing fee: $1,851,000,000 x 0.05% 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 ($5,760.00), printer ($755.00), independent public accountant ($14,126.16) and L/C issuing bank ($23,496.91)

5. Subaccount Withdrawals as of Current Payment Date (if applicable, pursuant to Section 8.02(d) of Indenture):

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 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	290,434,163.00
v.	Tranche A-5 Principal Balance	462,000,000.00

vi.	Aggregate Principal Balance for all Series A Transition Bonds	752,434,163.00


vii.	Excess Funds Subaccount Balance	24,190,388.08
viii.	Capital Subaccount Balance	9,255,000.00

ix.	Aggregate Collection Account Balance	33,445,388.08

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 A
	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

	Series A
	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 (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 30th day of July, 2015.

		CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC, as Servicer

by:		/s/ Carla Anita Kneipp
		Carla Anita Kneipp
		Vice President and Treasurer

Excess Funds Subaccount (available for 4.i. through 4.ix.)

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

Total Withdrawals