Issuer: | Consumers Energy Company | |
Security: | $500,000,000 6.700% First Mortgage Bonds due 2019 | |
Maturity: | September 15, 2019 | |
Interest rate: | 6.700% | |
Yield to maturity: | 6.706% | |
Spread to Treasury: | 380 basis points | |
Benchmark Treasury security: | 2.750% due February 15, 2019 | |
Benchmark Treasury yield: | 2.906% | |
Optional redemption: | Make-whole call at any time at Treasury rate plus 50 basis points | |
Interest payment dates: | March 15 and September 15 | |
First interest payment date: | September 15, 2009 | |
Public offering price: | 99.952% of principal amount | |
Trade date: | March 2, 2009 | |
Settlement date: | March 6, 2009 (T+4) | |
Ratings: | Baa1 / BBB / BBB+ (Moodys / 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.; J.P. Morgan Securities Inc.; BNP Paribas Securities Corp.; Scotia Capital (USA) Inc.; SunTrust Robinson Humphrey, Inc. |
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Co-Managers: |
Comerica Securities, Inc.; Greenwich Capital Markets, Inc.; KeyBanc Capital Markets Inc.; Wedbush Morgan Securities Inc.; Blaylock Robert Van, LLC; Fifth Third Securities, Inc.; The Williams Capital Group, L.P. |
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CUSIP: | 210518CS3 |