DTE Electric to redeem all $200 million 4.8% notes due 2015 on July 23

By Marisa Wong

Madison, Wis., June 23 – DTE Electric Co. issued a notice of full redemption for its $200 million of outstanding 2005 series AR 4.8% senior notes due 2015.

The notes will be redeemed on July 23 at the redemption price plus accrued interest to the redemption date.

The redemption price will be the greater of par and the sum of the present values of remaining scheduled payments of principal and interest until maturity, in each case discounted to the redemption date on a semiannual basis at Treasuries plus 15 basis points.

The electric utility, formerly Detroit Edison Co., is based in Detroit.

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