CenterPoint Energy Restoration Bond Co III, LLC 8-K

What Happened
CenterPoint Energy Restoration Bond Company III, LLC and CenterPoint Energy Houston Electric, LLC entered into an Underwriting Agreement (dated Feb. 18, 2026) for the sale of $1,193,474,000 aggregate principal amount of Series 2026‑A Senior Secured System Restoration Bonds. The bonds will be issued pursuant to an Indenture and related Series Supplement to be dated Feb. 26, 2026, with U.S. Bank Trust Company, National Association named as Indenture Trustee. The lead underwriters are Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and BofA Securities, Inc.

Key Details

• Amount: $1,193,474,000 aggregate principal of Series 2026‑A Senior Secured System Restoration Bonds.
• Parties & Dates: Underwriting Agreement dated Feb. 18, 2026; Indenture, Series Supplement and related agreements dated/to be dated Feb. 26, 2026.
• Underwriters / Trustee: Representatives—Citigroup, J.P. Morgan, Morgan Stanley and BofA; Indenture Trustee—U.S. Bank Trust Company, N.A.
• Related agreements: Issuer and CenterPoint Houston expect to enter a System Restoration Property Servicing Agreement, Property Sale Agreement, Administration Agreement and an Intercreditor Agreement; an amended LLC agreement for the Issuing Entity is also being filed as an exhibit.
• Affiliations/fees: Citigroup provided advisory services to CenterPoint Houston in proceedings before the Texas PUCT (Docket No. 58252) and expects a $75,000 fee for those services.

Why It Matters
This filing documents the formation and sale of a large, secured bond issuance (over $1.19 billion) intended to fund system restoration financing tied to CenterPoint Houston’s regulatory proceeding before the Texas Public Utility Commission. For investors, it signals a formal financing step under the PUCT financing order; the bonds are issued by a special‑purpose issuing entity (not the utility’s common equity) and are structured as senior secured obligations with related servicing, sale and intercreditor arrangements. The filing also discloses customary underwriter and trustee relationships and a disclosed advisory fee paid to Citigroup.