Consumers Energy (CMS subsidiary) to issue $400M in first mortgage bonds via private placement

CONSUMERS ENERGY CO

Total $400M: $115M 5.24% due 2026, $50M 5.07% due 2029, $95M 5.17% due 2032, $140M 5.38% due 2037.
Bonds secured by a direct first lien on property under the Indenture dated 1945, supplemented for this issuance.
Closing anticipated during May 2023, subject to customary conditions including FERC authorization.
Proceeds will be used for general corporate purposes (not specified in detail, but typical utility capex).
Private placement exempt from SEC registration; sold to institutional purchasers.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CONSUMERS ENERGY CO entered into Bond Purchase Agreement with certain institutional purchasers valued at $400 million (effective 2023-01-12).

Action: entry
Agreement: notes offering
Counterparty: certain institutional purchasers
Value: $400 million
Effective: 2023-01-12

Exact text from the filing

On January 12, 2023, Consumers Energy Company (“Consumers Energy”), a principal subsidiary of CMS Energy Corporation, and certain institutional purchasers in the private placement market (“Purchasers”) entered into a Bond Purchase Agreement (“BPA”) whereby Consumers Energy will sell to the Purchasers, in a private placement, an aggregate principal amount of $400 million First Mortgage Bonds (“FMBs”).

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CONSUMERS ENERGY CO filing history →

Source: SEC EDGAR

accession 0001104659-23-003371

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