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Short-Term Borrowings and Long-term Debt (Tables)
 9 Months Ended
Sep. 30, 2018
Debt Disclosure [Abstract]  
Schedule of Debt [Table Text Block]
Debt Issuances. During the nine months ended September 30, 2018, the following debt instruments were issued:
 
 
Issuance Date
 
Debt Instrument
 
Aggregate Principal Amount
 
Interest Rate
 
Maturity Date
 
 
 
 
 
 
(in millions)
 
 
 
 
Houston Electric
 
February 2018
 
General mortgage bonds
 
$
400

 
3.95%
 
2048
CERC Corp.
 
March 2018
 
Unsecured senior notes  
 
300

 
3.55%
 
2023
CERC Corp.
 
March 2018
 
Unsecured senior notes
 
300

 
4.00%
 
2028


The proceeds from these issuances were used for general limited liability company and corporate purposes, as applicable, including to repay portions of outstanding commercial paper and borrowings under CenterPoint Energy’s money pool.

Merger Financings. On October 5, 2018, the following debt instruments were issued:
 
 
Debt Instrument
 
Aggregate Principal Amount
 
Interest Rate
 
Maturity Date
 
 
 
 
(in millions)
 
 
 
 
CenterPoint Energy
 
Unsecured senior notes  
 
$
500

 
3.60%
 
2021
CenterPoint Energy
 
Unsecured senior notes  
 
500

 
3.85%
 
2024
CenterPoint Energy
 
Unsecured senior notes  
 
500

 
4.25%
 
2028

CenterPoint Energy intends to use the net proceeds from these debt issuances to fund a portion of the pending Merger and to pay related fees and expenses.
Schedule of Line of Credit Facilities [Table Text Block]
The Registrants had the following revolving credit facilities and utilization of such facilities:
 
 
 
September 30, 2018
 
December 31, 2017
 
Size of
Facility
 
Loans
 
Letters
of Credit
 
Commercial
Paper
 
Weighted Average Interest Rate
 
Loans
 
Letters
of Credit
 
Commercial
Paper
 
Weighted Average Interest Rate
 
(in millions, except weighted average interest rate)
CenterPoint Energy
$
1,700

(1)
$
—

 
$
6

 
$
104

 
2.42
%
 
$
—

 
$
6

 
$
855

 
1.88
%
Houston Electric
300

 
—

 
4

 
—

 
—

 
—

 
4

 
—

 
—

CERC Corp.
900

 
—

 
1

 
98

 
2.43
%
 
—

 
1

 
898

 
1.72
%
Total
$
2,900

 
$
—

 
$
11

 
$
202

 
 
 
$
—

 
$
11

 
$
1,753

 
 


(1)
Pursuant to the amendment entered into in May 2018, the aggregate commitments under the CenterPoint Energy revolving credit facility increased to $3.3 billion on October 5, 2018 as a result of the satisfaction of certain conditions described above.
Execution
 Date
 
Company
 
Size of
Facility
 
Draw Rate of LIBOR plus (1)
 
Financial Covenant Limit on Debt for Borrowed Money to Capital Ratio
 
Debt for Borrowed Money to Capital
Ratio as of
September 30, 2018 (2)
 
Termination Date
 
 
 
 
(in millions)
 
 
 
 
 
 
 
 
March 3, 2016
 
CenterPoint Energy
 
$
1,700

(3)
1.250%
 
75%
(4) (5)
47.5%
 
March 3, 2022
March 3, 2016
 
Houston Electric
 
300

 
1.125%
 
65%
(5)
50.7%
 
March 3, 2022
March 3, 2016
 
CERC Corp.
 
900

 
1.125%
 
65%
 
48.6%
 
March 3, 2022


(1)
Based on current credit ratings.

(2)
As defined in the revolving credit facility agreement, excluding Securitization Bonds.

(3)
Pursuant to the amendment entered into in May 2018, the aggregate commitments under the CenterPoint Energy revolving credit facility increased to $3.3 billion on October 5, 2018 as a result of the satisfaction of certain conditions described above.

(4)
On October 5, 2018, CenterPoint Energy’s financial covenant limit returned to 65% due to the termination of all commitments in respect of the Bridge Facility without any borrowing thereunder.

(5)
For CenterPoint Energy (whenever its financial covenant limit is 65%) and Houston Electric, the financial covenant limit will temporarily increase from 65% to 70% if Houston Electric experiences damage from a natural disaster in its service territory and CenterPoint Energy certifies to the administrative agent that Houston Electric has incurred system restoration costs reasonably likely to exceed $100 million in a consecutive 12-month period, all or part of which Houston Electric intends to seek to recover through securitization financing. Such temporary increase in the financial covenant would be in effect from the date CenterPoint Energy delivers its certification until the earliest to occur of (i) the completion of the securitization financing, (ii) the first anniversary of CenterPoint Energy’s certification or (iii) the revocation of such certification.