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.
FORWARD-LOOKING STATEMENTS
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.
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SOURCE DTE Energy