0001104659-20-062570.txt : 20200515 0001104659-20-062570.hdr.sgml : 20200515 20200515160303 ACCESSION NUMBER: 0001104659-20-062570 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20200515 DATE AS OF CHANGE: 20200515 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CMS ENERGY CORP CENTRAL INDEX KEY: 0000811156 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC & OTHER SERVICES COMBINED [4931] IRS NUMBER: 382726431 STATE OF INCORPORATION: MI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-236742 FILM NUMBER: 20884882 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 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: CMS ENERGY CORP CENTRAL INDEX KEY: 0000811156 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC & OTHER SERVICES COMBINED [4931] IRS NUMBER: 382726431 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 FWP 1 a20-16797_4fwp.htm FWP

 

Filed under Rule 433
File No. 333-236742

 

Final Term Sheet

 

May 15, 2020

 

Issuer:

 

CMS Energy Corporation

Security:

 

4.75% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2050 (the “Notes”)

Aggregate Principal Amount Offered:

 

$500,000,000

Maturity Date:

 

June 1, 2050

Coupon:

 

(i) 4.750% per annum, accruing from and including May 28, 2020 to, but not including, the First Reset Date; and (ii) at a rate per annum equal to the Five-Year Treasury Rate as of the most recent Reset Interest Determination Date, plus 4.116%, to be reset on each Reset Date, from and including the First Reset Date to, but not including, the Maturity Date

Interest Payment Dates:

 

June 1 and December 1, subject to deferral

First Interest Payment Date:

 

December 1, 2020

Public Offering Price:

 

100%

First Reset Date:

 

June 1, 2030

Initial Par Call Period:

 

The period from and including March 1, 2030 to and including the First Reset Date

Make-Whole Call:

 

At any time on or after June 1, 2025, other than during the Initial Par Call Period or on any subsequent Reset Date, in whole or in part, at the Treasury rate plus 50 basis points, plus accrued and unpaid interest to, but not including, the redemption date

Par Call:

 

During the Initial Par Call Period or on any subsequent Reset Date, in whole or in part, at 100% plus accrued and unpaid interest to, but not including, the redemption date

Tax Event Call:

 

At any time, in whole but not in part, at 100% plus accrued and unpaid interest to, but not including, the redemption date

Rating Agency Call:

 

At any time, in whole but not in part, at 102% plus accrued and unpaid interest to, but not including, the redemption date

Trade Date:

 

May 15, 2020

Settlement Date:

 

May 28, 2020 (T+8)

Expected Ratings:

 

Baa2 / BBB- / BB+ (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.

 

 

Deutsche Bank Securities Inc.

 

 

Goldman Sachs & Co. LLC

 

 

Morgan Stanley & Co. LLC

 

 

RBC Capital Markets, LLC

Co-Managers:

 

Academy Securities, Inc.

 

 

Comerica Securities, Inc.

 

 

Fifth Third Securities, Inc.

 

 

Loop Capital Markets LLC

CUSIP / ISIN:

 

125896 BU3 / US125896BU39

 

CMS Energy Corporation 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 CMS Energy Corporation has filed with the SEC for more complete information about CMS Energy Corporation and this offering.  You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov.  Alternatively, CMS Energy Corporation, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Goldman Sachs & Co. LLC toll-free at 866-471-2526, Morgan Stanley & Co. LLC toll-free at 866-718-1649 or RBC Capital Markets, LLC toll-free at 866-375-6829.

 

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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