Consumers Energy to redeem 5 3/8% first mortgage bonds with offering

By Tali David

Minneapolis, May 1 - Consumers Energy Co. plans to redeem a portion of its 5 3/8% first mortgage bonds due 2013 with the proceeds of its mortgage bond offering, according to a 424B3 filed with the Securities and Exchange Commission.

There is currently $375 million aggregate principal amount of the bonds outstanding.

Consumers said it expects to pay the remaining portion of the bonds with cash on hand.

Consumers Energy is an electric and gas utility based in Jackson, Miss.

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