CenterPoint Energy Transition Bond CO II, LLC - FORM 8-K - EX-99.1 - SEMIANNUAL SERVICER'S CERTIFICATE, DATED JULY 30, 2012 - August 2, 2012

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8-K - FORM 8-K - CenterPoint Energy Transition Bond CO II, LLCd388447d8k.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 31, 2012 through July 30, 2012

Payment Date: August 1, 2012

Today's Date: July 30, 2012

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

 

i. Remittances for the January 31, 2012 Collection Period

      293,067.21      

ii. Remittances for the February 1 through 29, 2012 Collection Period

      14,825,866.39      

iii. Remittances for the March 1 through 31, 2012 Collection Period

      13,266,984.11      

iv. Remittances for the April 1 through 30, 2012 Collection Period

      11,367,220.39      

v. Remittances for the May 1 through 31, 2012 Collection Period

      15,528,774.26      

vi. Remittances for the June 1 through 30, 2012 Collection Period

      15,551,592.36      

vii. Remittances for the July 1 through 30, 2012 Collection Period

      17,106,855.36      

viii. Net Earnings on Collection Account

         [through 6/30/12 ] 

General Subaccount

      28,919.11      

Capital Subaccount

      5,775.11      

Excess Funds Subaccount

      9,352.93      
  

 

 

     

ix. General Subaccount Balance (sum of i through viii above)

      87,984,407.23      
  

 

 

     

x. Excess Funds Subaccount Balance as of Prior Payment Date

      15,991,891.53      

xi. Capital Subaccount Balance as of Prior Payment Date

      9,255,000.00      
  

 

 

     

xii. Collection Account Balance (sum of ix through xi above)

      113,231,298.76      
  

 

 

     

2. Outstanding Amounts as of Prior Payment Date:

 

i. Tranche A-1 Principal Balance

      0.00   

ii. Tranche A-2 Principal Balance

      16,503,845.00   

iii. Tranche A-3 Principal Balance

      252,000,000.00   

iv. Tranche A-4 Principal Balance

      519,000,000.00   

v. Tranche A-5 Principal Balance

      462,000,000.00   
  

 

 

  

vi. Aggregate Principal Balance of all Series A Transition Bonds

      1,249,503,845.00   
  

 

 

  

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

 

     Projected         
     Principal      Semiannual  

Series A Principal

    Balance      Principal Due  

i. Tranche A-1

      0.00         0.00   

ii. Tranche A-2

      0.00         16,503,845.00   

iii. Tranche A-3

      213,121,395.00         38,878,605.00   

iv. Tranche A-4

      519,000,000.00         0.00   

v. Tranche A-5

      462,000,000.00         0.00   
  

 

 

     

 

 

  

vi. For all Series A Transition Bonds

      1,194,121,395.00         55,382,450.00   
  

 

 

     

 

 

  

 

     Transition     Days in         
     Bond     Interest         
     Interest Rate     Period (1)      Interest Due  

vii. Required Tranche A-1 Interest

      4.840 %      180         0.00   

viii. Required Tranche A-2 Interest

      4.970 %      180         410,120.55   

ix. Required Tranche A-3 Interest

      5.090 %      180         6,413,400.00   

x. Required Tranche A-4 Interest

      5.170 %      180         13,416,150.00   

xi. Required Tranche A-5 Interest

      5.302 %      180         12,247,620.00   

 

(1) On 30/360 Day basis.

 

            Funding  
     Required Level      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

      2,540.00     

ii. Servicing Fee

      462,750.00 (1)   

iii. Administration Fee and Independent Managers Fee

      50,000.00 (2)   

iv. Operating Expenses

      97,646.94 (3)   

v. Semiannual Interest (including any past-due Semiannual Interest for prior periods)

     
           Per 1,000  
           of Original  
                          Series A    Aggregate     Principal Amount  

1. Tranche A-1 Interest Payment

      0.00        0.00   

2. Tranche A-2 Interest Payment

      410,120.55        1.11   

3. Tranche A-3 Interest Payment

      6,413,400.00        25.45   

4. Tranche A-4 Interest Payment

      13,416,150.00        25.85   

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

  

           Per 1,000  
           of Original  
                          Series A    Aggregate     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

     
           Per 1,000  
           of Original  
                          Series A    Aggregate     Principal Amount  

1. Tranche A-1 Principal Payment

      0.00        0.00   

2. Tranche A-2 Principal Payment

      16,503,845.00        44.85   

3. Tranche A-3 Principal Payment

      38,878,605.00        154.28   

4. Tranche A-4 Principal Payment

      0.00        0.00   

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

      5,775.11     

x. Net Earnings in Capital Subaccount Released to Issuer

      0.00     

xi. Deposit to Excess Funds Subaccount

      0.00     

xii. Released to Issuer upon Series Retirement: Collection Account

      0.00     
  

 

 

    

xiii. Aggregate Remittances as of Current Payment Date

      88,488,452.60     
  

 

 

    

 

(1) Servicing fee: $1,851,000,000 x .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 ($5,127.50), independent public accountant ($63,088.67), printer ($1,010.00) and L/C issuing bank ($28,420.77)

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

   

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

      504,045.37   

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

      0.00   
  

 

 

  

iii. Total Withdrawals

      504,045.37   
  

 

 

  

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

      213,121,395.00   

iv. Tranche A-4 Principal Balance

      519,000,000.00   

v. Tranche A-5 Principal Balance

      462,000,000.00   
  

 

 

  

vi. Aggregate Principal Balance for all Series A Transition Bonds

      1,194,121,395.00   
  

 

 

  

vii. Excess Funds Subaccount Balance

      15,487,846.16   

viii. Capital Subaccount Balance

      9,260,775.11   
  

 

 

  

ix. Aggregate Collection Account Balance

      24,748,621.27   
  

 

 

  

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, 2012.

 

  CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC, as Servicer
by:    /s/ Linda Geiger
 

Linda Geiger

Assistant Treasurer