CMS Energy launches $125M cash tender offer for 5 series of Consumers Energy bonds

CMS ENERGY CORP

Aggregate Tender Cap of $125M for bonds: 2.50% due 2060, 2.65% due 2052, 3.10% due 2050, 3.25% due 2046, 3.50% due 2051.
Highest priority series (Level 1): 2.50% bonds due 2060, $125M Series Tender Cap; all others have no sublimit.
Early tender payment of $30 per $1,000 principal; early tender date June 17, 2025; expiration July 3, 2025.
Fixed spreads: +35 bp to +50 bp over specified U.S. Treasury reference securities; settlement expected June 23 (early) or July 9.
Dealer manager: U.S. Bancorp Investments; no minimum tender condition; CMS may increase/decrease caps.

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