CMS Energy To Raise $750M Through Convertible Notes Offering To Pay Down Debt

CMS Energy Corporation ("CMS Energy") (NYSE:CMS) announced today that it intends to offer, subject to market and other conditions, $750 million aggregate principal amount of its convertible senior notes due 2031 (the "convertible notes") in a private placement under the Securities Act of 1933, as amended (the "Securities Act"). CMS Energy also intends to grant to the initial purchasers of the convertible notes an option to purchase, within a 13-day period from, and including, the date on which the convertible notes are first issued, up to an additional $112.5 million aggregate principal amount of the convertible notes.

 

CMS Energy intends to use the net proceeds from the offering of the convertible notes to retire CMS Energy's 3.60% Senior Notes due 2025, which will mature on November 15, 2025, and which have an aggregate principal amount outstanding of $250 million as of the date hereof, and to use the remainder of the proceeds for general corporate purposes.