DTE Electric to redeem 5.6% notes on Aug. 16 using new deal proceeds

New York, July 31 – DTE Electric Co. will repay its $300 million of series G 5.6% senior notes due June 15, 2018 on Aug. 16, according to a 424B5 filing with the Securities and Exchange Commission.

Funding for the redemption will come from an offering of new general and refunding mortgage bonds due 2047.

Proceeds will also be used to repay short-term borrowings and for general corporate purposes.

DTE Electric is a Detroit-based electric utility.

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