CenterPoint Energy elects to make a ZENS Reference Share Offer Adjustment

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Go back to CenterPoint Energy elects to make a ZENS Reference Share Offer Adjustment

Centerpoint Energy (CNP) Opts for ZENS 2020 Adjustment vs. Early Exchange Ratio Increase

June 9, 2015 6:57 AM EDT

Centerpoint Energy (NYSE: CNP) has elected to make a Reference Share Offer Adjustment and distribute Additional Interest, if any, in accordance with the terms of CenterPoint Energy's 2.0 percent Zero-Premium Exchangeable Subordinated Notes due 2029 (ZENS) rather than electing to increase the Early Exchange Ratio to 100 percent during the pendency of Verizon Communications Inc.'s (NYSE, Nasdaq: VZ) tender offer.

According to the terms of Verizon's tender offer provided in Schedule TO filed with the Securities... More