Consumers Energy to redeem 6%, 5% first mortgage bonds with offering

By Tali David

Minneapolis, May 13 - Consumers Energy Co. plans to redeem $200 million of its 6% first mortgage bonds due 2014 and $225 million of its 5% first mortgage bonds due 2015 with the proceeds of a new offering of bonds, according to a 424B3 filed with the Securities and Exchange Commission.

The company said that until it uses the net proceeds for this purpose, it may temporarily invest the net proceeds in highly liquid short-term investments such as institutional money market funds or deposit the net proceeds with banks.

Consumers Energy is an electric and gas utility based in Jackson, Miss.

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