CMS Energy Corporation has announced the early results and upsizing of its cash tender offer for certain outstanding debt securities. The company has amended the terms of the tender offer to increase the combined aggregate principal amount of bonds subject to the tender offer from $125 million to $147.095 million. Additionally, the series tender cap for the 2.500% first mortgage bonds due 2060 has been increased to $147.095 million.
A total of $147.095 million in aggregate principal amount of the 2060 bonds were validly tendered and not validly withdrawn prior to or at 5:00 p.m., New York City time, on June 17, 2025. This represents the maximum aggregate principal amount of 2.500% first mortgage bonds due 2060 that may be purchased in the tender offer.
Holders of the 2060 bonds that were validly tendered and not validly withdrawn on or prior to the early tender date are eligible to receive the applicable total consideration, which includes an early tender payment of $30 per $1,000 principal amount of 2060 bonds validly tendered and not validly withdrawn.
The tender offer is scheduled to expire at 5:00 p.m., New York City time, on July 3, 2025, or any other date and time to which CMS Energy extends the tender offer. CMS Energy does not expect to accept for purchase any tender of bonds after the early tender date because the amount of bonds validly tendered and not validly withdrawn at or prior to the early tender date exceeded the aggregate tender cap.
The full details of the tender offer, including complete instruction on how to tender bonds, are included in the offer to purchase. The offer to purchase may be obtained from D.F. King, free of charge.
CMS Energy (NYSE: CMS) is a Michigan-based energy provider featuring Consumers Energy Company, an electric and gas utility, as its primary business. It also owns and operates independent power generation businesses. Today the company's shares have moved -0.48% to a price of $68.79. If you want to know more, read the company's complete 8-K report here.
