CenterPoint Energy Inc. closed its investment in about 14.5 million units of 10% Series A preferred units representing limited partner interests in Enable Midstream Partners LP, CenterPoint said Feb. 18.
The units were priced at $25 each, and Enable redeemed about $363 million of notes payable to subsidiary CenterPoint Energy Resources Corp. These notes will mature in 2017.
CenterPoint used the proceeds from the redemption for its investment in Enable's preferred units, and expects the transaction to be accretive to its earnings.
CenterPoint Energy Inc. is based in Houston. Enable Midstream Partners LP is based in Oklahoma City.
Negotiations with three companies includes joint operation of a crude pipeline from Houston to Corpus Christi.
Fluor Corp.’s board of directors has confirmed the appointment of Carlos M. Hernandez as CEO and named him a member of the board of the company on May 16.
Shareholder advisory group ISS was, however, concerned about the potential impact on PDC if CEO Bart Brookman were to be removed from the board, said activist investor Kimmeridge.