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Utility CMS Energy to Sell New Preferred Issue

Michigan utility CMS Energy (CMS) has announced a new issue of $25 preferred stock.

The company has 3 issues of baby bonds outstanding as well as an old $100 issue of preferred stock which can be seen here.

It will be very interesting to see where a utility issue prices given that we have had very few utility issues come to the retail market in recent years.

The preliminary prospectus can be found here.

J was on top of this one.

10 thoughts on “Utility CMS Energy to Sell New Preferred Issue”

    1. No kidding. I got 25% allocation for what I put in for. Hard to believe it’s “hard” to get a 4.20 Utility coupon nowadays

    2. Sometimes the captha doesn’t like me either–or I am just to old to ‘find the cars’ or whatever.

    1. Wouldn’t you love to know where this extremely Low Yielder will be trading in say 2 1/2 years??? I wouldn’t touch this with a 20’ pole.

    1. I put in for some and hearing its hard to get due to small issuance
      Hearing same coupon talk of 4.20

      1. Hey George, whats going on? Though it makes no difference to me in terms of safety it, just FYI. In terms of tradeable issues, CMS-C will be structurally subordinate to not only the baby bonds, but also, CMS-B.

  1. That could be of intertest. Hard (for me) to guess what the coupon might be.
    Just yesterday, CMS made the news — I don’t know if it is good or bad from an investment perspective:
    “Consumers Energy today announced a sweeping proposal to stop using coal as a fuel source for electricity by 2025 –15 years faster than currently planned. The plan would make the company one of the first in the nation to go coal-free and provide a 20-year blueprint to meet Michigan’s energy needs while protecting the environment for future generations.”

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