---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-054790"
form_type: "8-K"
ticker: "CMS"
cik: "0000811156"
company_name: "CMS ENERGY CORP"
filed_at: "2023-05-02T23:59:59+00:00"
generated_at: "2026-06-16T04:15:17.773918+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# CMS Energy prices $700M 3.375% convertible senior notes due 2028, upsized from $650M

## Summary
- Principal amount $700M (initial purchasers option up to additional $100M); closing May 5, 2023.
- Net proceeds ~$688.4M (or ~$786.9M if option exercised); to redeem/repay existing consolidated indebtedness and general corporate purposes.
- Conversion rate initially 13.5194 shares per $1,000 principal (~$73.97 conversion price), representing ~20% premium over May 1 close.
- Notes mature May 1, 2028; interest 3.375% paid semi-annually; CMS can redeem after May 6, 2026 if stock price ≥130% of conversion price for 20 of 30 trading days.
- Offered as private placement under Rule 144A; not registered under Securities Act.

## SEC filing metadata
- accession: 0001104659-23-054790
- form_type: 8-K
- ticker: CMS
- cik: 0000811156
- company_name: CMS ENERGY CORP
- filed_at: 2023-05-02T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/811156/000110465923054790/0001104659-23-054790-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/811156/000110465923054790/tm2314320d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-054790
- JSON: https://secwatch.observer/filing/0001104659-23-054790.json
- Plain text: https://secwatch.observer/filing/0001104659-23-054790.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.