debt
confidence high
sentiment neutral
materiality 0.35
CMS Energy launches cash tender offer for up to $150M of outstanding debt securities
CMS ENERGY CORP
- CMS Energy and Consumers Energy offer to purchase up to $150M aggregate principal of seven series of senior and mortgage bonds.
- Tender offer expires June 1, 2023; early tender deadline May 16, 2023 with $30/$1,000 early tender payment.
- Highest acceptance priority: Consumers’ 2.5% First Mortgage Bonds due 2060 (CUSIP 210518 DJ2).
- Offer conditioned on closing of previously announced convertible note offering to fund purchases.
- Dealer managers: Barclays Capital and J.P. Morgan; information agent: D.F. King.