CenterPoint Energy Transition Bond CO II, LLC - FORM 8-K - EX-99.1 - EX9-99.1

CenterPoint Energy Transition Bond CO II, LLC - FORM 8-K - EX-99.1 - EX9-99.1 - February 4, 2016

Attached files

Attached files

file	filename
8-K - 8-K - CenterPoint Energy Transition Bond CO II, LLC	d125598d8k.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, 2015 through January 28, 2016

Payment Date: February 1, 2016

Today’s Date: January 28, 2016

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


i.	Remittances for the July 31, 2015 Collection Period	956,548.56
ii.	Remittances for the August 1 through 31, 2015 Collection Period	21,503,790.06
iii.	Remittances for the September 1 through 30, 2015 Collection Period	26,117,171.65
iv.	Remittances for the October 1 through 31, 2015 Collection Period	22,618,177.48
v.	Remittances for the November 1 through 30, 2015 Collection Period	18,236,132.27
vi.	Remittances for the December 1 through 31, 2015 Collection Period	19,700,349.36
vii.	Remittances for the January 1 through 28, 2016 Collection Period	13,839,763.65
viii.	Net Earnings on Collection Account		[7/1/15 through 12/31/15	]
	General Subaccount	35,927.65
	Capital Subaccount	4,705.78
	Excess Funds Subaccount	11,951.95

ix.	General Subaccount Balance (sum of i through viii above)	123,024,518.41

x.	Excess Funds Subaccount Balance as of Prior Payment Date	24,190,388.08
xi.	Capital Subaccount Balance as of Prior Payment Date	9,255,000.00

xii.	Collection Account Balance (sum of ix through xi above)	156,469,906.49

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

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

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		197,270,773.00		93,163,390.00
v.	Tranche A-5		462,000,000.00		0.00

vi.	For all Series A Transition Bonds		659,270,773.00		93,163,390.00


		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		7,507,723.11
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		0.00
ii.	Servicing Fee		462,750.00	(1)
iii.	Administration Fee and Independent Managers Fee		50,000.00	(2)
iv.	Operating Expenses		66,738.10	(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		7,507,723.11			14.47
	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		93,163,390.00			179.51
	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		4,705.78
xi.	Deposit to Excess Funds Subaccount		9,521,591.42
xii.	Released to Issuer upon Series Retirement: Collection Account		0.00

xiii.	Aggregate Remittances as of Current Payment Date		123,024,518.41

(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 ($1,205.00), printer ($355.00), independent public accountant ($41,800.00) and L/C issuing bank ($23,378.10)

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	197,270,773.00
v.	Tranche A-5 Principal Balance	462,000,000.00

vi.	Aggregate Principal Balance for all Series A Transition Bonds	659,270,773.00

vii.	Excess Funds Subaccount Balance	33,711,979.50
viii.	Capital Subaccount Balance	9,255,000.00

ix.	Aggregate Collection Account Balance	42,966,979.50

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 28th day of January, 2016.

		CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC, as Servicer

by:		/s/ Robert B. McRae
		Robert B. McRae
		Assistant Treasurer

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

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

Total Withdrawals