Enable Midstream IPO indicated to open $21.50 on 2.2M shares Enable Midstream (ENBL) priced 25M shares at $20.00. Morgan Stanley, Barclays and Goldman acted as joint book running managers for the offering.
Center Point announces early redemption of $363M of notes with Enable Midstream CenterPoint Energy announced that it has entered into an agreement with Enable Midstream Partners regarding the early redemption of $363M of notes payable to CenterPoint Energy Resources, a CenterPoint indirect, wholly-owned subsidiary. CenterPoint will invest the proceeds from the redemption in Enable's 10% Series A Fixed-to-Floating Non-Cumulative Redeemable Perpetual Preferred Units. The transaction is expected to close prior to the end of the Q1 and is expected to be accretive to CenterPoint's earnings. The closing will be subject to CenterPoint's completion of its review of Enable's audited financial statements for the year-ended December 31, 2015, and certain customary closing conditions. Because the source of funds for the preferred securities investment will be the redemption of the notes, CenterPoint does not need to use either external sources or cash from operations to finance the investment.