CMS Energy Announces Final Debt Tender Results And Senior Note Issuance
CMS Energy (NYSE: CMS) announced today the final tender results for its previously announced offer to purchase its 7.5 percent Senior Notes Due 2009 (CUSIP No. 125896 AH3).
As of 11:59 p.m. EDT Monday, July 2, 2007, the expiration date, CMS Energy had received tenders for $360.597 million in principal amount of the notes representing 88 percent of the outstanding principal amount of the notes. CMS Energy has accepted tenders of all of the tendered notes.
Holders of an aggregate $359.540 million principal amount of notes tendered prior to 5 p.m., EDT on June 18, 2007, the early tender date, received a payment today of $1,027.96, which included an early tender payment of $20, for each $1,000 principal amount of tendered notes. Holders of an aggregate $1.057 million principal amount of notes tendered after the early tender date and prior to the expiration date received a payment today of $1,007.96 for each $1,000 principal amount of tendered notes. In addition, all tendering holders received payment for accrued unpaid interest.
CMS Energy obtained funding today for its debt tender offer from the sale and issuance of $250 million principal amount of its 6.55 percent Senior Notes due 2017 and $150 million principal amount of its Floating Rate Senior Notes due 2013.
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