CMS Energy extends term loan agreement to 2017, reduces pricing

By Marisa Wong

Madison, Wis., April 30 - CMS Energy Corp. amended on April 25 its $180 million term loan credit agreement with JPMorgan Chase Bank, NA, Bank of America, NA and Union Bank, NA to reduce pricing terms and to extend the maturity date, according to an 8-K filing with the Securities and Exchange Commission.

The credit agreement now matures on April 25, 2017 instead of Dec. 15, 2016, and the applicable margin for Libor loans ranges from 100 basis points to 200 bps.

The company originally entered into the credit agreement on Dec. 15, 2011 with JPMorgan Chase Bank as administrative agent and amended the facility on Feb. 8, 2013 to reduce pricing terms.

CMS is a Jackson, Mich.-based energy company.

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