0001104659-18-064374.txt : 20181029 0001104659-18-064374.hdr.sgml : 20181029 20181029160108 ACCESSION NUMBER: 0001104659-18-064374 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20181029 DATE AS OF CHANGE: 20181029 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CONSUMERS ENERGY CO CENTRAL INDEX KEY: 0000201533 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC & OTHER SERVICES COMBINED [4931] IRS NUMBER: 380442310 STATE OF INCORPORATION: MI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-216355-01 FILM NUMBER: 181144217 BUSINESS ADDRESS: STREET 1: ONE ENERGY PLAZA CITY: JACKSON STATE: MI ZIP: 49201 BUSINESS PHONE: 5177880550 MAIL ADDRESS: STREET 1: ONE ENERGY PLAZA CITY: JACKSON STATE: MI ZIP: 49201 FORMER COMPANY: FORMER CONFORMED NAME: CONSUMERS POWER CO DATE OF NAME CHANGE: 19920703 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: CONSUMERS ENERGY CO CENTRAL INDEX KEY: 0000201533 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC & OTHER SERVICES COMBINED [4931] IRS NUMBER: 380442310 STATE OF INCORPORATION: MI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: ONE ENERGY PLAZA CITY: JACKSON STATE: MI ZIP: 49201 BUSINESS PHONE: 5177880550 MAIL ADDRESS: STREET 1: ONE ENERGY PLAZA CITY: JACKSON STATE: MI ZIP: 49201 FORMER COMPANY: FORMER CONFORMED NAME: CONSUMERS POWER CO DATE OF NAME CHANGE: 19920703 FWP 1 a18-37006_2fwp.htm FWP

 

Filed under Rule 433
File No. 333-216355-01

 

Final Term Sheet

 

October 29, 2018

 

Issuer:

 

Consumers Energy Company

Securities:

 

3.80% First Mortgage Bonds due 2028 (the “2028 Bonds”)

 

 

4.35% First Mortgage Bonds due 2049 (the “2049 Bonds”)

Aggregate Principal Amount Offered:

 

 

2028 Bonds:

 

$300,000,000

2049 Bonds:

 

$550,000,000

Maturity Date:

 

 

2028 Bonds:

 

November 15, 2028

2049 Bonds:

 

April 15, 2049

Coupon:

 

 

2028 Bonds:

 

3.80%

2049 Bonds:

 

4.35%

Yield to Maturity:

 

 

2028 Bonds:

 

3.830%

2049 Bonds:

 

4.373%

Spread to Benchmark Treasury:

 

 

2028 Bonds:

 

+73 basis points

2049 Bonds:

 

+103 basis points

Benchmark Treasury Security:

 

 

2028 Bonds:

 

2.875% due August 15, 2028

2049 Bonds:

 

3.125% due May 15, 2048

Benchmark Treasury Price and Yield:

 

 

2028 Bonds:

 

98-03+; 3.100%

2049 Bonds:

 

95-29+; 3.343%

Interest Payment Dates:

 

 

2028 Bonds:

 

May 15 and November 15

2049 Bonds:

 

April 15 and October 15

First Interest Payment Date:

 

 

2028 Bonds:

 

May 15, 2019

2049 Bonds:

 

April 15, 2019

Public Offering Price:

 

 

2028 Bonds:

 

99.752%

2049 Bonds:

 

99.618%

Optional Redemption:

 

 

2028 Bonds:

 

Make-whole call at any time prior to August 15, 2028 at the Treasury rate plus 15 basis points and, thereafter, at par

2049 Bonds:

 

Make-whole call at any time prior to October 15,

 

 

 

 

2048 at the Treasury rate plus 20 basis points and, thereafter, at par

Trade Date:

 

October 29, 2018

Settlement Date:

 

November 13, 2018 (T+10)

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:

 

Citigroup Global Markets Inc.

 

 

J.P. Morgan Securities LLC

 

 

KeyBanc Capital Markets Inc.

 

 

Mizuho Securities USA LLC

 

 

MUFG Securities Americas Inc.

 

 

SMBC Nikko Securities America, Inc.

Co-Managers:

 

C.L. King & Associates, Inc.

 

 

Comerica Securities, Inc.

 

 

U.S. Bancorp Investments, Inc.

 

 

The Williams Capital Group, L.P.

CUSIP/ISIN:

 

 

2028 Bonds:

 

210518 DC7 / US210518DC78

2049 Bonds:

 

210518 DD5 / US210518DD51

 

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 Citigroup Global Markets Inc. toll-free at (800) 831-9146, J.P. Morgan Securities LLC collect at (212) 834-4533, Mizuho Securities USA LLC toll-free at (866) 271-7403 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.

 

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