CMS obtains revolver extension

New York, March 25 - CMS Energy Corp. said its bank lenders extended the maturity of a revolving credit facility to the earlier of June 30 or the closing date of the sale of CMS Panhandle Cos.

The Dearborn, Mich. company had previously said on March 13 it was seeking the extension because of delays in the sale of CMS Panhandle.

Proceeds from the Panhandle sale will be used to pay down the revolver.

The revolver was originally $295.8 million in size of which $172 million has been paid down.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.