Michigan utility DTE Energy (DTE) has announced a new issue of $25/share subordinated debenture.
The issue will mature in 2081 and will have an early optional redemption available to the company beginning in 12/1/2026.
The issue will be investment grade.
The company has announced the intention to redeem their 6.00% subordinated debentures (DTY) which become redeemable on 12/15/2021.
The preliminary prospectus can be read here.
EarlyBird was on this one a few minutes ago.
If interest rates rise this may go to my annuity bucket
but I am doubtful
Yield talk is 4.25- 4.38
Well thank goodness this has a maturity…. That 60 year maturity will put a limit on the duration risk …. lol.