Consumers Energy (CMS-PB) prices $900M in new first mortgage bond issue

Consumers Energy is issuing $900 million in new first mortgage bonds, comprising $450 million of 4.900% bonds due 2031 and $450 million of 6.100% bonds due 2056. These bonds are priced at 99.787% and 99.751% respectively, generating estimated net proceeds of $891.28 million for general corporate purposes. The bonds rank equally with existing first mortgage bonds and are redeemable early under specific conditions, including a Tax Credit Event.