|
DTE Energy Co., 2016 Series B 5.375% Junior Subordinated Debentures due 7/1/2076
Ticker Symbol: DTJ* CUSIP: 233331800 Exchange: NYSE
* NOTE: This security is no longer trading as of 6/30/2021
Security has been Called for: Wednesday, June 30, 2021
May 26, 2021 -- 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.
|
|
QUANTUMONLINE.COM SECURITY DESCRIPTION: DTE Energy Co., 2016 Series B 5.375% Junior Subordinated Debentures due 2076, issued in $25 denominations, redeemable at the issuer's option on or after 6/1/2021 at $25 per share plus accrued and unpaid interest, and maturing 7/1/2076. Interest distributions of 5.375% per annum ($1.34375 per annum or $0.3359375 per quarter) will be paid quarterly on 3/1, 6/1, 9/1 & 12/1 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). The company may, on one or more occasions, defer dividend payments for up to 40 consecutive quarters unless an event of default occurs, but not beyond the maturity date. The Company may redeem the junior subordinated debentures in whole before 6/1/2021 if a rating agency event occurs. In this event, the redemption price will be equal to 102% of the principal amount (see prospectus for further details). 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. Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. This security was rated as Baa1 by Moody’s and BBB- by S&P at the date of its IPO. The junior subordinated debentures are unsecured, subordinated obligations of the company and will rank equally with all existing and future unsecured, subordinated indebtedness of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.
|
Go to Parent Company's Record (DTE)
IPO - 5/23/2016 - 12.00 Million Debentures @ $25.00 /deb.
Link to IPO Prospectus
Market Value $308.0 Million
|
Company's Online Information Links
|
| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: One Energy Plaza, Detroit, Michigan 48226 |
| Main Phone Number |
313-235-4000 |
| Fax Number |
Not Available |
| Investor Relations
John Dermody
|
313-235-8030
|
| Toll Free Phone Number |
866-388-8558 |
| CEO - Jerry Norcia |
CFO - David Ruud |
Find a problem? Please use our Feedback Page or Email us.
Have you filled out our Guestbook? If not, please do.
|
|
