debt
confidence high
sentiment neutral
materiality 0.50
CMS Energy announces early results and pricing of $150M debt tender offer; $1.7B tendered
CMS ENERGY CORP
- Approximately $1.705 billion aggregate principal of Notes tendered in tender offer for up to $150M purchase price.
- Early tender payment of $30 per $1,000 principal included in Total Consideration for each series accepted.
- CMS Energy will accept $149.99M of 2.500% First Mortgage Bonds due 2060 and $88.18M of 2.650% due 2052 (partial acceptance).
- Tender offer funded with net proceeds from CMS Energy's convertible senior notes offering completed May 5, 2023.
- No additional Notes expected to be accepted after early settlement date of May 18, 2023, as tenders exceeded cap.