Submitted by Consumers Energy
CMS Energy and its primary subsidiary, Consumers Energy (collectively “CMS”), announced they have entered the first syndicated sustainability-linked revolving credit facilities for a U.S. borrower.
The aggregate $1.4 billion of new credit facilities allow CMS to reduce its interest rate by meeting targets related to environmental sustainability, specifically renewable energy generation.
“We believe a company can serve more than the bottom line. We are committed to a triple bottom line that’s measured by our actions to support people, planet and prosperity,” said Patti Poppe, CMS Energy’s president and chief executive officer. “We are excited to be a trendsetter in the United States entering an innovative credit facility, where sustainability and financial results go hand-in-hand.”
CMS Energy this year announced clean energy goals that include:
“Our company has a proud history of leaving it better than we found it, and we are confident that our new clean energy goals will support our commitment to deliver consistent, industry-leading financial performance,” Poppe said.
Barclays, J.P. Morgan, MUFG, Mizuho and BofA Merrill Lynch acted as Joint Lead Arrangers for the facilities. Barclays acted as Sustainability Structuring Agent.
About CMS Energy
CMS Energy (NYSE: CMS) is a Michigan-based company that has an electric and natural gas utility, Consumers Energy, as its primary business and also owns and operates independent power generation businesses.
Brian Wheeler, 517-788-2394, or Katie Carey, 517-788-2395
Investment Analyst Contact: CMS Energy Investor Relations, 517-788-2590
Consumers Energy is one of the nation's largest combination utilities, providing electric and natural gas service to nearly 6.6 million of Michigan's 10 million residents, in all 68 Lower Peninsula counties.
Our Growing Forward strategy calls for investing more than $6 billion in Michigan over the next five years. That includes significant investments in energy efficiency, renewable energy, environmental and customer service enhancements, and new power generation.
The investments make Consumers Energy one of the largest investors in Michigan and will help the utility maintain and improve service to customers, create jobs, boost the state’s economy and expand the state’s tax base.
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