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Consumers Energy Co – ‘FWP’ on 3/17/20 re: Consumers Energy Co

On:  Tuesday, 3/17/20, at 4:38pm ET   ·   Accession #:  1104659-20-34778   ·   File #:  333-236742-01

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 3/17/20  Consumers Energy Co               FWP                    1:22K  Consumers Energy Co               Toppan Merrill/FA

Free-Writing Prospectus   —   Rule 163 / 433   —   SA’33
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: FWP         Free-Writing Prospectus                             HTML     16K 


This is an HTML Document rendered as filed.  [ Alternative Formats ]



 

Filed under Rule 433
File No. 333-236742-01

 

Final Term Sheet

 

March 17, 2020

 

Issuer:

 

Consumers Energy Company

Securities:

 

3.50% First Mortgage Bonds due 2051

Aggregate Principal Amount Offered:

 

$575,000,000

Maturity Date:

 

August 1, 2051

Coupon:

 

3.50%

Yield to Maturity:

 

3.521%

Spread to Benchmark Treasury:

 

+200 basis points

Benchmark Treasury Security:

 

2.375% due November 15, 2049

Benchmark Treasury Price and Yield:

 

120-10; 1.521%

Interest Payment Dates:

 

February 1 and August 1

First Interest Payment Date:

 

August 1, 2020

Public Offering Price:

 

99.606%

Optional Redemption:

 

Make-whole call at any time prior to February 1, 2051 at the Treasury rate plus 30 basis points and, thereafter, at par

Trade Date:

 

March 17, 2020

Settlement Date:

 

March 26, 2020 (T+7)

Expected Ratings:

 

Aa3 / A / A+ (Moody’s / S&P / Fitch)

 

 

Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time

Joint Book-Running Managers:

 

Barclays Capital Inc.

 

 

Citigroup Global Markets Inc.

 

 

J.P. Morgan Securities LLC

 

 

MUFG Securities Americas Inc.

 

 

SunTrust Robinson Humphrey, Inc.

 

 

U.S. Bancorp Investments, Inc.

Co-Manager:

 

Loop Capital Markets LLC

CUSIP/ISIN:

 

210518 DH6 / US210518DH65

 

Consumers Energy Company has filed a registration statement (including a prospectus, as supplemented) with the Securities and Exchange Commission (“SEC”) for the offering to which this communication relates. Before you invest, you should read the prospectus (as supplemented) in that registration statement and other documents Consumers Energy Company has filed with the SEC for more complete information about Consumers Energy Company and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Consumers Energy Company, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Barclays Capital Inc. toll-free at (888) 603-5847, Citigroup Global Markets Inc. toll-free at (800) 831-9146, J.P. Morgan Securities LLC collect at (212) 834-4533 or MUFG Securities Americas Inc. toll-free at (877) 649-6848.

 


 

Any disclaimers or other notices that may appear below are not applicable to this communication and should be disregarded. Such disclaimers were automatically generated as a result of this communication being sent via email or another communication system.

 

2



Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘FWP’ Filing    Date    Other Filings
8/1/20
3/26/20
Filed on:3/17/20424B5
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Filing Submission 0001104659-20-034778   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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