DTE Electric plans 30-year first mortgage bonds via six bookrunners

By Devika Patel

Knoxville, Tenn., July 31 – DTE Electric Co. expects to price 2017 series B general and refunding mortgage bonds due 2047, according to a 424B5 filed with the Securities and Exchange Commission.

The bonds feature a make-whole call and then are callable at par.

Barclays, BofA Merrill Lynch, Wells Fargo Securities LLC, BNY Mellon Capital Markets LLC, Mizuho Securities USA Inc. and UBS Securities LLC are the bookrunners. SunTrust Robinson Humphrey Inc. is the co-manager.

Proceeds will be used to repay $300 million of the company’s 2008 series G 5.6% senior notes due June 15, 2018 on Aug. 16, to repay short-term borrowings and for general corporate purposes.

The electric company is based in Allentown, Pa.

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