CMS Energy $1 billion convertible senior notes offering
The 3.125% convertible notes are due 2031
Davis Polk acted as special product counsel to the representatives of the several initial purchasers in connection with a Rule 144A offering by CMS Energy Corporation of an aggregate principal amount of $1 billion of its 3.125% convertible senior notes due 2031, which included $150 million aggregate principal amount of notes pursuant to the exercise in full of the initial purchasers’ option to purchase additional notes.
CMS Energy Corporation is a Michigan-based energy company featuring Consumers Energy Company, an electric and gas utility, as its primary business. It also owns and operates independent power generation businesses. CMS shares are traded on the NYSE under the symbol “CMS.”
The Davis Polk equity derivatives team included partner Mark J. DiFiore and counsel Gregory E. Marchesini. The tax team included counsel Yixuan Long and associate David J. Beer. All members of the Davis Polk team are based in the New York office.