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

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8-K - 8-K - CenterPoint Energy Transition Bond CO II, LLC	d655773d8k.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, 2018 through January 30, 2019

Payment Date: February 1, 2019

Today’s Date: January 30, 2019


1. Collections Allocable and Aggregate Amounts Available for Current Payment Date:
	i.	Remittances for the July 31, 2018 Collection Period		813,562.78
	ii.	Remittances for the August 1 through 31, 2018 Collection Period		21,154,888.50
	iii.	Remittances for the September 1 through 30, 2018 Collection Period		19,662,608.46
	iv.	Remittances for the October 1 through 31, 2018 Collection Period		21,622,067.99
	v.	Remittances for the November 1 through 30, 2018 Collection Period		18,182,647.10
	vi.	Remittances for the December 1 through 31, 2018 Collection Period		12,967,430.77
	vii.	Remittances for the January 1 through 30, 2019 Collection Period		14,142,148.45
	viii.	Net Earnings on Collection Account					[7/1/18 through 12/31/18]
		General Subaccount		576,018.60
		Capital Subaccount		93,659.31
		Excess Funds Subaccount		292,897.64

	ix.	General Subaccount Balance (sum of i through viii above)		109,507,929.60

	x.	Excess Funds Subaccount Balance as of Prior Payment Date		28,167,932.23
	xi.	Capital Subaccount Balance as of Prior Payment Date (1)		9,322,841.38

	xii.	Collection Account Balance (sum of ix through xi above)		146,998,703.21

		(1) Net of unreleased earnings shown in 1.viii.

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		0.00
	v.	Tranche A-5 Principal Balance		207,644,275.00

	vi.	Aggregate Principal Balance of all Series A Transition Bonds		207,644,275.00


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		0.00			0.00
	v.	Tranche A-5		94,860,410.00			112,783,865.00

	vi.	For all Series A Transition Bonds		94,860,410.00			112,783,865.00


			Transition Bond Interest Rate			Days in Interest Period (2)		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		0.00
	xi.	Required Tranche A-5 Interest		5.302	%		180		5,504,649.73
		(2) 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	(3)
	iii.	Administration Fee and Independent Managers Fee		52,500.00	(4)
	iv.	Operating Expenses		82,885.13	(5)
	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		0.00			0.00
		5. Tranche A-5 Interest Payment		5,504,649.73			11.91
	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

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

Series A

Aggregate

Per 1,000 of
Original Principal
Amount

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

112,783,865.00

244.12

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

Net Earnings in Capital Subaccount Released to Issuer

0.00

xi.

Deposit to Excess Funds Subaccount

-9,765,277.21

xii.

Released to Issuer upon Series Retirement: Collection Account

0.00

xiii.

Aggregate Remittances as of Current Payment Date

109,121,372.65

(3) Servicing fee: $1,851,000,000 x 0.05% x 180/360 = $462,750.00

(4) Administration fee: $100,000 x 180/360 = $50,000.00; Independent Managers fee: $2,500.00

(5) Reimbursement to Administrator for fees/expenses paid to outside legal counsel ($0), printer ($605.00), independent public accountant ($51,275.00), rating agency ($7,500.00) and L/C issuing bank ($23,505.13)

5. Subaccount Withdrawals as of Current Payment Date

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

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

9,765,277.21

ii.

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

0.00

iii.

Total Withdrawals

9,765,277.21

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

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

0.00

Tranche A-5 Principal Balance

94,860,410.00

vi.

Aggregate Principal Balance for all Series A Transition Bonds

94,860,410.00

vii.

Excess Funds Subaccount Balance

18,695,552.66

viii.

Capital Subaccount Balance

9,416,500.69

ix.

Aggregate Collection Account Balance

28,112,053.35

7. Shortfalls In Interest and Principal Payments as of Current Payment Date

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

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

Capital Subaccount

0.00


IN WITNESS HEREOF, the undersigned has duly executed and delivered this Semiannual Servicer’s Certificate this 30th day of January, 2019.

CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC, as Servicer

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

CenterPoint Energy Transition Bond CO II, LLC - FORM 8-K - EX-99.1 - February 1, 2019

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