DTE Energy intends to sell $300 million of 10-year senior notes

By Aleesia Forni

Virginia Beach, May 6 - DTE Energy Co. is planning to price a $300 million offering of senior notes, series C, due 2024, according to an informed source and a 424B5 filed with the Securities and Exchange Commission on Tuesday.

J.P. Morgan Securities LLC, BofA Merrill Lynch, UBS Securities LLC and RBS Securities Inc. are the joint bookrunners.

The co-managers are Comerica Securities, Fifth Third Securities Inc. and Huntington Investment Co.

Proceeds will be used to repay $300 million of the company's 7.625% senior due May 15, 2014 and for general corporate purposes.

DTE is a Detroit-based utility involved in the development and management of energy-related businesses and services nationwide.

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