DTE Energy Company Announces Redemption of 2011 Series I 6.50% Junior Subordinated Debentures
DETROIT, Nov. 28, 2016 /PRNewswire/ -- DTE Energy (NYSE: DTE) announced today that it has priced its offering of $280 million aggregate principal amount 2016 Series F 6 percent Junior Subordinated Debentures due Dec. 15, 2076. The use of proceeds will be used to redeem the Company's 2011 Series I 6.50 percent Junior Subordinated Debentures (NYSE: DTZ).
DTE Energy announced today the full redemption of all outstanding 2011 Series I 6.50 percent Junior Subordinated Debentures. The 2011 Series I 6.50 percent Junior Subordinated Debentures will be redeemed on Dec. 28, 2016. The redemption price is 100 percent of the unpaid principal amount of the 2011 Series I 6.50 percent Junior Subordinated Debentures, together with accrued and unpaid interest up to, but excluding, Dec. 28, 2016. The 2011 Series I 6.50 percent Junior Subordinated Debentures will be called for redemption in minimum denominations of $25 and in multiples of $25.
Holders owning 2011 Series I 6.50 percent Junior Subordinated Debentures through a broker, bank or other nominee should contact that party for information.
For more information, holders of the 2011 Series I 6.50 percent Junior Subordinated Debentures may contact the paying agent for the redemption: The Bank of New York Mellon Trust Company, N.A., Corporate Trust, 719 Griswold Street, Suite 930, Detroit, Michigan 48226, or by calling 800-254-2826.
Certain information presented herein includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations, and businesses of DTE Energy. Words such as "anticipate," "believe," "expect," "projected," "aspiration," and "goals" signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions, but rather are subject to numerous assumptions, risks, and uncertainties that may cause actual future results to be materially different from those contemplated, projected, estimated, or budgeted. Many factors may impact these forward-looking statements including, but not limited to, the risks discussed in our public filings with the Securities and Exchange Commission ("SEC"). Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. New factors emerge from time to time. We cannot predict what factors may arise or how such factors may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements speak only as of the date on which such statements are made. We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. Other factors that may impact our future results are contained in DTE Energy's 2015 Annual Report on Form 10-K and 2016 quarterly reports on Form 10-Q and other reports filed by DTE Energy with the SEC.
About DTE Energy
DTE Energy (NYSE: DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide.
Its operating units include an electric utility serving 2.2 million customers in Southeastern Michigan and a natural gas utility serving 1.2 million customers in Michigan. The DTE Energy portfolio includes non-utility energy businesses focused on power and industrial projects, natural gas pipelines, gathering and storage, and energy marketing and trading. As one of Michigan's leading corporate citizens, DTE Energy is a force for growth and prosperity in the 450 Michigan communities it serves in a variety of ways, including philanthropy, volunteerism and economic progress. Information about DTE Energy is available at dteenergy.com, twitter.com/dte_energy and facebook.com/dteenergy.
SOURCE DTE Energy