By Lisa Kerner
Charlotte, N.C., April 23 - Consumers Energy Co. executed a bond purchase agreement to issue $250 million of 5.3% first mortgage bonds due 2022 and $50 million of 6.17% first mortgage bonds due 2040, according to a form 10-Q filed with the Securities and Exchange Commission.
The company will issue the bonds in a private placement that is expected to close on Sept. 1.
The bonds will be issued under and secured by a Sept. 1, 1945 indenture between Consumers Energy and the Bank of New York Mellon.
Purchasers include Metropolitan Life Insurance Co., Union Fidelity Life Insurance Co., Northwestern Mutual Life Insurance Co., Connecticut General Life Insurance Co., Life Insurance Co. of North America, Great-West Life & Annuity Insurance Co., First Great-West Life & Annuity Insurance Co., Protective Life Insurance Co., Minnesota Life Insurance Co., World Insurance Co., Catholic Aid Association, Colorado Bankers Life Insurance Co., New Era Life Insurance, Knights of Columbus, Thrivent Financial for Lutherans, Union Central Life Insurance Co., Acacia Life Insurance Co., Ameritas Life Insurance Corp., Cumis Insurance Society, Inc., Southern Farm Bureau Life Insurance Co., Standard Insurance Co., Assurity Life Insurance Co., Cotton State Life Insurance, Country Mutual Insurance Co., Country Life Insurance Co., John Hancock Life Insurance Co. (U.S.A.), John Hancock Life & Health Insurance Co. and National Guardian Life Insurance Co.
The electric and gas utility is based in Jackson, Miss.
| Issuer: | Consumers Energy Co.
|
| Issue: | First mortgage bonds
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| Settlement date: | Sept. 1
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| Distribution: | Private placement
|
|
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| 12-year bonds
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| Amount: | $250 million
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| Maturity: | 2022
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| Coupon: | 5.36%
|
|
|
| 30-year bonds
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| Amount: | $50 million
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| Maturity: | 2040
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| Coupon: | 6.17%
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