secwatch.observer — SEC 8-K summary
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Issuer:     DTE ENERGY CO (DTE)
CIK:        0000936340
Form:       8-K
Filed at:   2022-06-29T23:59:59+00:00
Accession:  0000936340-22-000167
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/936340/000093634022000167/0000936340-22-000167-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/936340/000093634022000167/dte-20220624.htm
  HTML page:      https://secwatch.observer/filing/0000936340-22-000167

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