After an 18-month struggle, the path is finally clear for Houston-based CenterPoint Energy to issue its $1.89 billion stranded cost ABS. Last week, the Texas State Attorney General's office and other groups that had previously opposed the deal agreed not to lodge another appeal, removing the final roadblock for CenterPoint to bring its deal to market. Sources say the deal could be in the market by the end of the year.
The Public Utility Commission of Texas, which has authorized the deal, also announced last week its selection of investment banking firm Saber Partners as financial advisor on the transaction. According to a statement from Saber, the company will "serve as a joint decision maker with CenterPoint Energy on all matters related to the structure, marketing and pricing of the bonds including the selection of the underwriters."