Printer Friendly

CMS ENERGY SAYS NEW FINANCING BEGUN

 CMS ENERGY SAYS NEW FINANCING BEGUN
 DEARBORN, Mich., Oct. 8 /PRNewswire/ -- CMS Energy Corporation


(NYSE: CMS) said today it completed the first and largest phase of its parent company debt financing program. The program is intended to refinance $410 million of existing bank loans and provide for the company's capital needs for the next several years.
 The successful CMS Energy public offering raised approximately $350 million of debt in two series of notes maturing in 1997 and 1999. The five-year notes have a coupon of 9.5 percent. The seven-year notes have a coupon of 9 7/8 percent. As a second phase of the financing program, the company is currently working to arrange for a new credit line with its bank group.
 CMS Energy Corporation is a $3 billion (sales) diversified energy company with businesses engaged in the distribution of electricity and natural gas, interstate storage and transmission of natural gas, oil and gas exploration and production, independent power generation and utility services. CMS Energy Corporation's principal subsidiary is Consumers Power Company, Michigan's largest utility and the nation's fourth- largest combination electric and gas utility.
 -0- 10/8/92
 /CONTACT: Michael J. Brogan of CMS Energy, 313-436-9253/
 (CMS) CO: CMS Energy Corporation ST: Michigan IN: UTI OIL SU:


SB -- DE009 -- 7771 10/08/92 10:53 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 8, 1992
Words:218
Previous Article:CHECKPOINT REPORTS RECORD THIRD QUARTER REVENUES
Next Article:TPI BUYS FLORIDA TERRITORY AND RESTAURANTS
Topics:


Related Articles
CMS ENERGY COMPLETES FINANCING
SCUDDER LATIN AMERICAN POWER FUND ADDS FOURTH LEAD INVESTOR
CONSUMERS POWER ANNOUNCES NEW ENERGY EFFICIENCY INITIATIVES
Fitch Rates New $300M CMS Energy Sr. Notes 'BB' - Fitch Financial Wire -
Panhandle Eastern on Fitch IBCA RatingAlert Negative, CMS Energy Affirmed - Fitch IBCA -.
Standard & Poor's Affirms CMS and Consumers Energy.
CMS Energy Names Cliff Lawrenson V.P. Structured Finance Of Its CMS Enterprises Unit.
CMS Energy Announces Election of Martin Walicki to V-P Corporate Finance, And Mark (Cliff) Lawrenson to V-P Project Finance.
CMS Energy Announces MPSC Approval of Orders Removing Major Uncertainties For its Electric and Natural Gas Utility Businesses.
CMS Energy Announces Belinda Foxworth Promoted to Senior Vice President And General Counsel of its CMS Enterprises Unit.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters