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CMS ENERGY ANNOUNCES IT IS ON SCHEDULE IN REMARKETING MCV DEBT

     CMS ENERGY ANNOUNCES IT IS ON SCHEDULE IN REMARKETING MCV DEBT
    DEARBORN, Mich., Nov. 6 /PRNewswire/ -- CMS Energy (NYSE: CMS) announced today it is on schedule in its remarketing of $1.2 billion of MCV (Midland Cogeneration Venture) debt that it holds.
    The company, to date, has sold $481 million of MCV bonds ($181 million tax exempt and $300 million senior) at premiums totaling $20.4 million.
    After netting the selling cost of the bond sales, Consumers Power Company and CMS Energy would expect to record a pre-tax gain of $11.1 million in the fourth quarter.
    An additional $367 million of subordinated bonds are currently planned to be remarketed before year-end with the remainder of the MCV senior bonds to be remarketed in the third or fourth quarter of 1992. The proceeds from the bond sales will be used to reduce Consumers Power debt by $1 billion.
     Debt retirement will commence when the utility receives confirmation from the Michigan Public Service Commission that its plans concerning the use of the cash from the MCV bond sales are consistent with the Commission's May 1990 Order.
    -0-                            11/6/91
    /CONTACT:  Michael J. Brogan of CMS Energy, 313-436-9253/
    (CMS) CO:  CMS Energy Corporation; Midland Cogeneration Venture ST:  Michigan IN:  UTI SU: KK -- DE021 -- 1814 11/06/91 14:54 EST
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Publication:PR Newswire
Date:Nov 6, 1991
Words:219
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