DTE Energy Co 2020 Series G 4.375% Junior Subordinated Debentures due 10/15/2080 (DTB)
NYSE · · CUSIP 233331826
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Security Details

Coupon Rate
4.38%
Liquidation Preference
$25.00
Call Price
$25.00
Call / Redemption Date
10/15/2025
Maturity Date
10/15/2080
Distribution Period
Q
Rate Type
Fixed
Annual Distribution
1.09375
Distribution Dates
1/15, 4/15, 7/15 & 10/15
Credit Ratings
Moody's Baa3 · S&P BBB- (4/20/2025)
Tax-Advantaged Dividends
No

Security Profile

Security Type
Exchange-Traded Debt Security »
CUSIP
233331826
Market Cap
Small Cap
IPO
9/22/2020 · $25.00/share
Parent Company
DTE Energy Co. (DTE)
Business: DTE Energy Co., 2020 Series G 4.375% Junior Subordinated Debentures due 2080, issued in $25 denominations, redeemable at the issuer's option on or after 10/15/2025 at $25 per share plus accrued and unpaid interest, and maturing 10/15/2080. <p> Interest distributions of 4.375% per annum ($1.09375 per annum or $0.2734375 per quarter) will be paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record on the record date that will be 15 calendar days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). Distributions paid by these debt securities are interest and as such are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. </p> The issuer may elect to defer the interest payable on the Notes on one or more occasions for up to 40 consecutive quarters (see prospectus for further information). This security is possibly subject to an early call before 10/15/2025 at $25.00 (100%) of their principal amount plus accrued and unpaid interest within 90 days of a tax event; before 10/15/2025 at $25.50 (102%) of their principal amount plus accrued and unpaid interest within 90 days of the occurrence of a rating agency event (see prospectus for further information). <p> This security was rated as Baa3 by Moody’s and BBB- by S&P at the date of its IPO. This security was rated as BB+ by Fitch Ratings Co. at the date of its IPO. The Debentures are unsecured, junior subordinated obligations of the company and are unsecured, subordinated obligations of the company and will rank junior to the company's senior debt, junior to unsecured, subordinated indebtedness of the company and will rank equally with all existing and future unsecured, junior subordinated of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.
Notes: The 4.375% Junior Subordinated Debentures were issued on 09/22/2020 but are not yet trading on the stock markets. They have been assigned the temporary ticker symbol TEMP22 by Quantum Online until they start trading on the NYSE or on the Other OTC market and their ticker symbol is known. The shares are expected to start trading on the NYSE within 30 days of their issue date and could, but not necessarily will, start trading on the Other OTC market at any time on an interim basis.

Company Contact

CEO
Michael P. Ure
CFO
Kristen S. Shults
Headquarters
One Energy Plaza, Detroit, Michigan 48226
Phone
313-235-4000 · Toll-Free 866-388-8558
Investor Relations
John Dermody · 313-235-8030 · John.Dermody@dteenergy.com
General Email
Investor_Relations@DTEEnergy.com
SEC EDGAR Filings
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