CMS Energy Announces Early Tender Results For Debt Tender Offer
CMS Energy Corporation (NYSE:CMS) today announced early tender results for its previously announced offer to purchase (the “Tender Offer”) for its 7.5% Senior Notes Due 2009 (CUSIP No. 125896 AH3)(the “Notes”).
As of 5:00 p.m., New York City time, on Monday, June 18, 2007 (the “Early Tender Date”), CMS had received tenders for $359.5 million in principal amount of the Notes (the “Tendered Notes”) representing about 88% of the outstanding principal amount of the Notes. Subject to the conditions of consummating the Tender Offer, CMS will accept tenders of all of the Tendered Notes.
Settlement for the early tender price of $1,027.96 for each $1,000.00 principal amount of Tendered Notes (the “early tender price”), including an early tender payment of $20.00, is expected to be on Tuesday, July 3, 2007 (the “Settlement Date”). Settlement will also include payment of accrued and unpaid interest on the Tendered Notes to, but not including, the Settlement Date.
The Tender Offer expires at 11:59 p.m., New York City time, on Monday, July 2, 2007 (the “Expiration Date”). Holders who validly tender their Notes after the early tender date but before the Expiration Date will be entitled to receive only the tender price, which is the early tender price less the early tender payment of $20.00, plus accrued and unpaid interest on Notes accepted in the Tender Offer to, but not including, the Settlement Date.
The terms of the Tender Offer are described in CMS’ Offer to Purchase dated June 5, 2007. CMS has engaged Morrow & Co., Inc. to act as information agent in connection with the Tender Offer. Requests for copies of the Offer to Purchase and questions regarding the Tender Offer may be directed to Morrow & Co., Inc. at 1(800) 607-0088 (US toll-free) or 1(203) 658-9400 (collect). CMS has engaged Deutsche Bank Securities Inc. to act as dealer manager in connection with the Tender Offer. Questions regarding the Tender Offer may be directed to Deutsche Bank Securities Inc., Liability Management Group at 1(866)627-0391 (US toll-free) or 1(212)250-2955 (collect).
This announcement is not an offer to purchase or a solicitation of an offer to purchase. The Tender Offer is being made solely by the Offer to Purchase dated June 5, 2007.
Neither the Offer to Purchase nor any related document has been filed with the United States Securities and Exchange Commission, nor has any such document been filed with or reviewed by any federal or state securities commission or regulatory authority of any country. No authority has passed upon the accuracy or adequacy of the Offer to Purchase or any related documents, and it is unlawful and may be a criminal offense to make any representation to the contrary.
The Tender Offer is not being made to, nor will CMS accept tenders of the Notes from, holders in any jurisdiction in which the Tender Offer or the acceptance thereof would not be in compliance with the securities or blue sky laws of such jurisdiction.
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