Morning Commentary: DTE Energy emerges with offering of senior notes; primary quiet

By Devika Patel

Knoxville, Tenn., Aug. 2 – Primary activity in the investment-grade bond market remained muted on Thursday with DTE Energy Co.’s offering of fixed-rate series D senior notes the only reported issue early in the session.

The notes initially have a make-whole call and then may be called at par.

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

The Detroit energy company will use the proceeds to repay short-term borrowings and for general corporate purposes.

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