0001104659-20-127340.txt : 20201119 0001104659-20-127340.hdr.sgml : 20201119 20201119160541 ACCESSION NUMBER: 0001104659-20-127340 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20201119 DATE AS OF CHANGE: 20201119 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: 201328868 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 a20-34585_2fwp.htm FWP

 

Filed under Rule 433
File No. 333-236742

 

Final Term Sheet

 

November 19, 2020

 

Issuer:

 

CMS Energy Corporation

 

 

 

Security:

 

3.75% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2050 (the “Notes”)

 

 

 

Aggregate Principal Amount Offered:

 

$400,000,000

 

 

 

Maturity Date:

 

December 1, 2050

 

 

 

Coupon:

 

(i) 3.75% per annum, accruing from and including November 25, 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 2.90%, 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:

 

June 1, 2021

 

 

 

Public Offering Price:

 

100%

 

 

 

First Reset Date:

 

December 1, 2030

 

 

 

Reset Date:

 

The First Reset Date and each date falling on the five-year anniversary of the preceding Reset Date

 

 

 

Par Call Period:

 

The three-month period prior to and including a Reset Date

 

 

 

Make-Whole Call:

 

At any time on or after December 1, 2025, other than during any Par Call Period, in whole or in part, at the adjusted treasury rate plus 45 basis points, plus accrued and unpaid interest to, but not including, the redemption date

 

 

 

Par Call:

 

During any Par Call Period, 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:

 

November 19, 2020

 

 

 

Settlement Date:

 

November 25, 2020 (T+4)

 

 

 

Expected Ratings

 

 

(Moody’s / S&P / Fitch):

 

Baa2 (negative) / BBB- (stable) / BB+ (stable)

 

 

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

 

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Joint Book-Running Managers:

 

Barclays Capital Inc.

 

 

J.P. Morgan Securities LLC

 

 

Truist Securities, Inc.

 

 

Wells Fargo Securities, LLC

 

 

PNC Capital Markets LLC

 

 

 

Co-Manager:

 

Loop Capital Markets LLC

 

 

 

CUSIP / ISIN:

 

125896 BV1 / US125896BV12

 

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 Barclays Capital Inc. toll-free at (888) 603-5847, J.P. Morgan Securities LLC collect at (212) 834-4533, Truist Securities, Inc. toll-free at (800) 685-4786 or Wells Fargo Securities, LLC toll-free at (800) 645-3751.

 

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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