DTE Energy enters $1.125B term loan credit agreement with mandatory draw requirements

DTE ENERGY CO

Term loan facility of $1,125,000,000 (plus $75M accordion) with Bank of Nova Scotia as administrative agent.
Mandatory draws: at least $400M by Aug 23, 2022; at least $800M by Dec 21, 2022.
Interest at term SOFR plus margin (plus 10 bps credit spread adjustment) or base rate plus margin.
Covenant: total funded debt to capitalization ratio >=0.70:1 until Dec 31, 2022; >=0.65:1 thereafter.
No borrowings as of June 24, 2022; proceeds for general corporate purposes.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.