CenterPoint Energy, which hopes to bring the largest ever stranded cost offering next year, has taken steps,at the request of regulators to increase transparency in its deals, hopefully leading to a sector-wide trend. Interestingly, several past issuers have de-registered, or suspended filings, on their outstanding transactions. Using programmatic ABS issuers such as Sallie Mae as a benchmark, CenterPoint voluntarily committed to expand the data reported in quarterly filings and begin reporting additional performance and collections data on its Web site, sources said.
The move comes as CenterPoint is in the planning stages of a $4 billion to $6 billion offering via Morgan Stanley and the Public Utility Commission of Texas (PUCT). The commission aims to differentiate the state as the most investor-friendly in the stranded asset universe. The state also claims it will ensure the lowest electricity rates to electricity consumers.