Semiannual Servicer’s Certificate CenterPoint Energy Transition Bond Company IV, LLC $1,695,000,000 2012 Senior Secured Transition Bonds Pursuant to Section 6.13 of the Transition Property Servicing Agreement (the “Agreement”), dated as of January 19,...
Exhibit 99.1
Semiannual Servicer’s Certificate
CenterPoint Energy Transition Bond Company IV, LLC
$1,695,000,000 2012 Senior Secured Transition Bonds
Pursuant to Section 6.13 of the Transition Property Servicing Agreement (the “Agreement”), dated as of January 19, 2012, between
CenterPoint Energy Houston Electric, LLC, as Servicer, and CenterPoint Energy Transition Bond Company IV, 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: April 14, 2023 through October 12, 2023
Payment Date: October 16, 2023
Today’s Date: October 12, 2023
| 1. Collections Allocable and Aggregate Amounts Available for Current Payment Date: |
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| i. |
Remittances for the April 14 through 30, 2023 Collection Period | 5,393,672.20 | ||||||||||||
| ii. |
Remittances for the May 1 through 31, 2023 Collection Period | 11,201,957.56 | ||||||||||||
| iii. |
Remittances for the June 1 through 30, 2023 Collection Period | 12,122,929.12 | ||||||||||||
| iv. |
Remittances for the July 1 through 31, 2023 Collection Period | 13,446,704.47 | ||||||||||||
| v. |
Remittances for the August 1 through 31, 2023 Collection Period | 17,740,812.55 | ||||||||||||
| vi. |
Remittances for the September 1 through 30, 2023 Collection Period | 18,062,336.31 | ||||||||||||
| vii. |
Remittances for the October 1 through 12, 2023 Collection Period | 7,660,991.54 | ||||||||||||
| viii. |
Net Earnings on General Subaccount | 967,176.54 | [4/1/23 through 9/30/23 | ] | ||||||||||
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| ix. |
General Subaccount Balance (sum of i through viii above) | 86,596,580.29 | ||||||||||||
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| x. |
Excess Funds Subaccount Balance as of Current Payment Date | 27,588,813.09 | ||||||||||||
| xi. |
Capital Subaccount Balance as of Current Payment Date (1) | 8,918,995.83 | ||||||||||||
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| xii. |
Collection Account Balance (sum of ix through xi above) | 123,104,389.21 | ||||||||||||
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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 |
240,503,153.00 | ||||||||||||
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| iv. |
Aggregate Principal Balance of all Series 2012 Transition Bonds |
240,503,153.00 | ||||||||||||
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| 3. Required Funding/Payments as of Current Payment Date: |
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| Principal |
Projected Principal Balance |
Semiannual Principal Due |
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| i. |
Tranche A-1 |
0.00 | 0.00 | |||||||||||
| ii. |
Tranche A-2 |
0.00 | 0.00 | |||||||||||
| iii. |
Tranche A-3 |
161,463,014.00 | 79,040,139.00 | |||||||||||
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| iv. |
For all Series 2012 Transition Bonds |
161,463,014.00 | 79,040,139.00 | |||||||||||
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| Transition Bond Interest Rate |
Days in Interest Period (2) |
Interest Due | ||||||||||||
| v. |
Required Tranche A-1 Interest |
0.9012 | % | 180 | 0.00 | |||||||||
| vi. |
Required Tranche A-2 Interest |
2.1606 | % | 180 | 0.00 | |||||||||
| vii. |
Required Tranche A-3 Interest |
3.0282 | % | 180 | 3,641,458.24 | |||||||||
| (1) | Including current period earnings of $217,302.47 |
| (2) | On 30/360 Day basis. |
| Required Level (Including Replenishment of Amounts Previously Withdrawn for 4.i.-4.viii.) |
Funding Required |
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| viii. |
Capital Subaccount | 8,918,995.83 | 0.00 | |||||||
| 4. Allocation of Remittances as of Current Payment Date Pursuant to Section 8.02(d) of Indenture: |
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| i. |
Trustee Fees and Expenses | 0.00 | ||||||||
| ii. |
Servicing Fee | 423,750.00 | (1) | |||||||
| iii. |
Administration Fee and Independent Manager Fee | 50,000.00 | (2) | |||||||
| iv. |
Operating Expenses | 77,121.03 | (3) | |||||||
| v. |
Semiannual Interest (including any past-due Semiannual Interest for prior periods) | |||||||||
| Aggregate | Per 1,000 of Original Principal Amount |
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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 | 3,641,458.24 | 5.35 | ||||||||
| vi. |
Principal Due and Payable as a result of (A) Event of Default or (B) on Final Maturity Date | |||||||||
| Aggregate | Per 1,000 of Original Principal Amount |
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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 | ||||||||
| vii. |
Principal Scheduled to be Paid on Current Payment Date | |||||||||
| Aggregate | Per 1,000 of Original Principal Amount |
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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 | 79,040,139.00 | 116.02 | ||||||||
| viii. |
Operating Expenses not Paid under Clause (iv) above | 0.00 | ||||||||
| ix. |
Replenishment of Any Amounts Drawn from Capital Subaccount | 0.00 | ||||||||
| x. |
Amount Calculated at Servicer’s Authorized Rate of Return on Equity on the Amount Contributed to the Capital Subaccount in Excess of 0.5% of the Initial Outstanding Principal Balance of the Bonds Released to Issuer | NA | ||||||||
| xi. |
Net Earnings in Capital Subaccount Relating to the Initial Contribution of 0.5% of the Initial Outstanding Principal Balance of the Bonds Released to Issuer | 0.00 | ||||||||
| xii. |
Deposit to Excess Funds Subaccount | 3,364,112.02 | ||||||||
| xiii. |
Released to Issuer upon Series Retirement: Collection Account | 0.00 | ||||||||
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| xiv. |
Aggregate Remittances as of Current Payment Date | 86,596,580.29 | ||||||||
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| (1) Servicing fee: $1,695,000,000 x .05% x 180/360 = $423,750.00 |
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| (2) Administration fee: $100,000 x 180/360 = $50,000.00 |
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| (3) Reimbursement to Administrator for fees/expenses paid as follows: |
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| Outside counsel |
11,931.36 | |||||||||
| Printing |
535.00 | |||||||||
| Independent auditor |
57,154.67 | |||||||||
| Rating Agencies |
7,500.00 | |||||||||
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| Total |
77,121.03 | |||||||||
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| 5. Subaccount Release or Withdrawals as of Current Payment Date Pursuant to Section 8.02(d) of Indenture: |
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| i. |
Capital Subaccount Release (available for 4.xi.) | 0.00 | ||||||||
| ii. |
Excess Funds Subaccount Withdrawal (available for 4.i. through 4.x.) | 0.00 | ||||||||
| iii. |
Capital Subaccount Withdrawal (available for 4.i. through 4.viii.) | 0.00 | ||||||||
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| iv. |
Total Release or Withdrawals | 0.00 | ||||||||
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| 6. Outstanding Amounts and Collection Account Balance as of Current Payment Date (after giving effect to payments to be made on such 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 | 161,463,014.00 | ||||||||
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| iv. |
Aggregate Principal Balance for all Series 2012 Transition Bonds | 161,463,014.00 | ||||||||
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| v. |
Excess Funds Subaccount Balance | 30,952,925.11 | ||||||||
| vi. |
Capital Subaccount Balance | 8,918,995.83 | ||||||||
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| vii. |
Aggregate Collection Account Balance | 39,871,920.94 | ||||||||
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| 7. Shortfalls In Interest and Principal Payments as of Current Payment Date (after giving effect to payments to be made on such Payment Date): |
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| i. |
Semiannual Interest | |||||||||
| 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 | |||||||||
| ii. |
Semiannual Principal | |||||||||
| 1. Tranche A-1 Principal Payment | 0.00 | |||||||||
| 2. Tranche A-2 Principal Payment | 0.00 | |||||||||
| 3. Tranche A-3 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): |
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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 12th day of October, 2023. | ||||
| CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC, as Servicer | ||||
| by: | /s/ Xxxxx Xxxxxx | |||
| Xxxxx Xxxxxx | ||||
| Assistant Treasurer | ||||
