CMS Energy Prices $450 Million In Notes
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CMS
JACKSON, Mich. (AP) Utility company CMS Energy Corp. said Wednesday it has priced $450 million in convertible and senior notes to be used to retire debt and for general corporate purposes.
The Jackson, Mich.-based company is offering $150 million in convertible senior notes due 2029 and $300 million principal amount senior notes due 2019. It may also offer an additional $22.5 million in convertible senior notes to underwriters to cover overallotments. The convertible senior notes will pay interest semiannually at a rate of 5.5 percent per year and will mature on June 15. The senior notes will pay interest semiannually at a rate of 8.75 percent per year and will mature on June 15. Barclays Capital Inc. is acting as sole book-running manager for the offering. Barclays, Deutsche Bank Securities, Banc of America Securities, Citigroup Global Markets and UBS Securities are acting as joint book-running managers for the senior notes offering.- Loading Comments...
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