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CMS Energy to partially repay $225 million term loan via new notes
By Sarah Lizee
Olympia, Wash., March 5 – CMS Energy Corp. plans to repay a portion of its $225 million term loan using proceeds from a new offering of junior subordinated notes due March 15, 2078, according to a 424B5 filed with the Securities and Exchange Commission.
The term loan bears interest at Libor plus 68 basis points, or 2.28% as of Dec. 31.
The company used the term loan borrowings to redeem a portion of its 8¾% senior notes due 2019.
CMS Energy is a Jackson, Mich., parent company to electric and gas utilities.
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