Long-Term Debt

3 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Long-Term Debt

LONG-TERM DEBT

Debt Issuances

In 2023, the following debt was issued:

Company	Month	Type	Interest Rate	Maturity Date	Amount
					(In millions)
DTE Electric	March	Mortgage bonds(a)	5.20%	2033	$	600
DTE Electric	March	Mortgage bonds(a)	5.40%	2053	600
DTE Energy	March	Term loan facility draw(b)	Variable	2023	200
					$	1,400

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(a)Proceeds used for the repayment of short-term borrowings, for capital expenditures, and for other general corporate purposes.

(b)Proceeds used for general corporate purposes.

In June 2022, DTE Energy entered into a $1.125 billion unsecured term loan with a maturity date of December 2023. Any borrowings on the loan were determined to be long-term debt, as the term of the facility exceeds one year. Total borrowings of $1.0 billion, including $200 million drawn in March 2023, are included in the current portion of long-term debt on DTE Energy's Consolidated Statements of Financial Position as of March 31, 2023. Borrowings are bearing interest at SOFR plus 0.90% per annum. Any unused capacity under the loan will terminate if not drawn by June 24, 2023.

Other terms of the loan are consistent with DTE Energy's unsecured revolving credit agreements. Refer to Note 10 to the Consolidated Financial Statements, "Short-Term Credit Arrangements and Borrowings", for additional information regarding the unsecured revolving credit agreements.

Debt Redemptions

In April 2023, DTE Gas redeemed at maturity its $25 million 2008 Series C 6.44% Senior Notes.