secwatch.observer — SEC 8-K summary
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Issuer:     CMS ENERGY CORP (CMS)
CIK:        0000811156
Form:       8-K
Filed at:   2023-05-02T23:59:59+00:00
Accession:  0001104659-23-054790
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/811156/000110465923054790/0001104659-23-054790-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/811156/000110465923054790/tm2314320d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-054790

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