CMS Energy Expands Revolving Credit Facility to $750 Million with Bank Consortium

Reuters11-22
CMS Energy Expands Revolving Credit Facility to $750 Million with Bank Consortium

CMS Energy Corporation has amended and restated its Revolving Credit Facility, increasing the facility from $550 million to $750 million. The agreement was reached with a consortium of banks led by Barclays Bank PLC as Agent, with JPMorgan Chase Bank, N.A. and MUFG Bank, LTD. as Co-Syndication Agents, and Mizuho Bank, Ltd., Bank of America, N.A., and Wells Fargo Bank, National Association as Co-Documentation Agents. The unsecured facility now has a five-year term expiring on November 21, 2030, with two one-year extension options, and will be used for general corporate purposes and working capital. The agreement replaces a prior facility that was set to expire in 2027 and adopts the SOFR Rate as the interest rate benchmark.

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