DTE Energy announces redemption of 2016 Series B 5.375% junior subordinated debentures

Rhea-AI Summary

DTE Energy announced the full redemption of its 2016 Series B 5.375% Junior Subordinated Debentures on June 30, 2021. The redemption price will be 100% of the unpaid principal, plus accrued interest. Holders can redeem these debentures in minimum denominations of $25. For inquiries, holders should contact their broker or the paying agent, Bank of New York Mellon Trust Company. This announcement reflects DTE's ongoing commitment to managing its financial obligations effectively.

Positive

• Full redemption of outstanding debentures shows strong financial management.
• Redeeming at 100% of unpaid principal indicates confidence in cash flow.

Negative

• None.

DTE Energy, May 27, 2021 (GLOBE NEWSWIRE) -- DETROIT – DTE Energy (NYSE: DTE) announced today, 5/27/2021, the full redemption of all outstanding 2016 Series B 5.375% Junior Subordinated Debentures (NYSE:DTJ). The 2016 Series B 5.375% Junior Subordinated Debentures will be redeemed on June 30, 2021. The redemption price is 100 percent of the unpaid principal amount of the 2016 Series B 5.375% Junior Subordinated Debentures, together with accrued and unpaid interest up to, but excluding, June 30, 2021. The 2016 Series B 5.375% Junior Subordinated Debentures will be called for redemption in minimum denominations of $25 and in multiples of $25.  

Holders owning 2016 Series B 5.375% Junior Subordinated Debentures through a broker, bank or other nominee should contact that party for information.  

For more information, holders of the 2016 Series B 5.375% Junior Subordinated Debentures may contact the paying agent for the redemption: The Bank of New York Mellon Trust Company, N.A., Corporate Trust, 111 Sanders Creek Parkway, East Syracuse, New York 13057, or by calling 800-254-2826.  

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 company serving 2.2 million customers in Southeast Michigan and a natural gas company serving 1.3 million customers in Michigan. The DTE portfolio includes energy businesses focused on power and industrial projects; renewable natural gas; natural gas pipelines, gathering and storage; and energy marketing and trading. DTE is committed to serving with its energy through volunteerism, education and employment initiatives, philanthropy and economic progress. 

FORWARD-LOOKING STATEMENTS The information contained herein is as of the date of this release. DTE Energy expressly disclaims any current intention to update any forward-looking statements contained in this release as a result of new information or future events or developments. Words such as “anticipate,” “believe,” “expect,” “may,” “could,” “projected,” “aspiration,” “plans” and “goals” signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various assumptions, risks and uncertainties, and actual results may differ materially.

FAQ

What is the redemption date for DTE's 2016 Series B debentures?

The redemption date for DTE's 2016 Series B 5.375% Junior Subordinated Debentures is June 30, 2021.

What is the redemption price for DTE's 2016 Series B debentures?

The redemption price is 100% of the unpaid principal amount plus accrued interest.

How can holders redeem their DTE 2016 Series B debentures?

Holders should contact their broker, bank, or the paying agent for redemption information.

What is the minimum denomination for redeeming DTE's 2016 Series B debentures?

The minimum denomination for redemption is $25.