By Marisa Wong
Los Angeles, Jan. 12 – Consumers Energy Co., a principal subsidiary of CMS Energy Corp., entered into a bond purchase agreement on Thursday to sell $400 million of first mortgage bonds to some institutional purchasers through a private placement, according to an 8-K filing with the Securities and Exchange Commission.
The company plans to place $115 million of 5.24% bonds due 2026, $50 million of 5.07% bonds due 2029, $95 million of 5.17% bonds due 2032 and $140 million of 5.38% bonds due 2037.
The issuance and funding are expected to take place in May, subject to customary closing conditions.
Consumers is a Jackson, Mich.-based public electric and gas utility.
| Issuer: | Consumers Energy Co.
|
| Issue: | First mortgage bonds
|
| Amount: | $400 million
|
| Trustee: | Bank of New York Mellon
|
| Announcement date: | Jan. 12
|
| Issue date: | May
|
| Distribution: | Private placement
|
|
|
| 2026 bonds
|
| Amount: | $115 million
|
| Maturity: | 2026
|
| Coupon: | 5.24%
|
|
|
| 2029 bonds
|
| Amount: | $50 million
|
| Maturity: | 2029
|
| Coupon: | 5.07%
|
|
|
| 2032 bonds
|
| Amount: | $95 million
|
| Maturity: | 2032
|
| Coupon: | 5.17%
|
|
|
| 2037 bonds
|
| Amount: | $140 million
|
| Maturity: | 2037
|
| Coupon: | 5.38%
|
|
|
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