CenterPoint Energy has entered into an underwriting agreement with a group of banks to sell $700 million in junior subordinated notes due 2058. The notes pay a 6.400% coupon until August 2033, then reset every five years to the Five-Year Treasury rate plus a 1.885% spread—but never below 6.400%. The company also has the option to defer interest payments for up to 20 semi-annual periods as long as no default is happening. This 8-K simply discloses that agreement.
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