DTE Electric to price two tranches of bonds, including green bonds

By Devika Patel

Knoxville, Tenn., Feb. 16 – DTE Electric Co. intends to conduct a two-part offering of 2022 series A general and refunding mortgage bonds and green 2022 series B general and refunding mortgage bonds, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will have make-whole calls followed by par calls.

Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Scotia Capital (USA) Inc., BMO Capital Markets Corp., BofA Securities Inc., MUFG, PNC Capital Markets LLC and TD Securities (USA) LLC are the bookrunners.

Fifth Third Securities Inc., Mizuho Securities USA Inc., Truist Securities Inc. and U.S. Bancorp Investments Inc. are the co-managers.

Proceeds from the series A bonds will be used to repay short-term borrowings, for capital expenditures and for other general corporate purposes.

Proceeds from the series B bonds will be used for eligible green expenditures.

Detroit-based DTE is a diversified energy company involved in the development and management of energy-related businesses and services.

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