DTE Energy postpones $275 million 10-year senior note offering

By Paul A. Harris

St. Louis, Nov. 9 - Energy and Industrial Utilities Co., LLC a wholly owned subsidiary of Detroit-based DTE Energy Co., postponed its $275 million offering of 10-year senior notes (B2/B) due to unfavorable market conditions, sources told Prospect News on Friday.

Morgan Stanley and Barclays Capital were joint bookrunners.

Proceeds were to be used to repay intercompany debt, to reimburse DTE Energy Services Inc., also a wholly owned subsidiary of DTE Energy, for certain pre-formation expenses, and to pay a dividend to DTE Energy Services.

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