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v3.20.2

Financings and Capitalization (Tables) | 9 Months Ended
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Sep. 30, 2020
Debt Instrument [Line Items] |
Major Long-Term Debt Transactions | Presented in the following table is a summary of major long‑term debt retirements during the nine months ended September 30, 2020:
| Principal (In Millions) |  | Interest Rate |  | Retirement Date | Maturity Date
Consumers |  |  |  |  |
First mortgage bonds |  | $ | 100 |  | 3.770 | % | April | October 2020
First mortgage bonds |  | 250 |  | 5.300 | % | June | September 2022
First mortgage bonds |  | 375 |  | 2.850 | % | September | May 2022
Total Consumers |  | $ | 725 |  |  |  |
Total CMS Energy |  | $ | 725 |  |  |  |
Presented in the following table is a summary of major long‑term debt issuances during the nine months ended September 30, 2020:
| Principal (In Millions) |  | Interest Rate |  | Issuance Date | Maturity Date
CMS Energy, parent only |  |  |  |  |
Term loan facility¹ |  | $ | 300 |  | variable |  | February | February 2021
Junior subordinated notes² |  | 500 |  | 4.750 | % | May | June 2050
Total CMS Energy, parent only |  | $ | 800 |  |  |  |
Consumers |  |  |  |  |
Term loan facility³ |  | $ | 300 |  | variable |  | January | January 2021
First mortgage bonds |  | 575 |  | 3.500 | % | March | August 2051
First mortgage bonds |  | 525 |  | 2.500 | % | May | May 2060
First mortgage bonds 4 |  | 134 |  | variable |  | May | May 2070
Total Consumers |  | $ | 1,534 |  |  |  |
Total CMS Energy |  | $ | 2,334 |  |  |  |
1 | At September 30, 2020, the interest rate on the balance of this term loan facility was 0.606 percent, based on an interest rate of one-week LIBOR plus 0.500 percent.
2 | These unsecured obligations rank subordinate and junior in right of payment to all of CMS Energy’s existing and future senior indebtedness. On June 1, 2030, and every five years thereafter, the notes will reset to an interest rate equal to the five-year treasury rate plus 4.116 percent.
3 | At September 30, 2020, the interest rate on the balance of this term loan facility was 0.556 percent, based on an interest rate of one‑week LIBOR plus 0.450 percent.
4 The variable-rate bonds bear interest quarterly at a rate of three-month LIBOR minus 0.300 percent, subject to a zero‑percent floor (zero percent at September 30, 2020).
Revolving Credit Facilities | The following credit facilities with banks were available at September 30, 2020:
In Millions |
Expiration Date | Amount of Facility |  | Amount Borrowed |  | Letters of Credit Outstanding |  | Amount Available |
CMS Energy, parent only |  |  |  |  |  |  |  |
June 5, 2023 |  | $ | 550 |  |  | $ | — |  |  | $ | 5 |  |  | $ | 545 |
CMS Enterprises, including subsidiaries |  |  |  |  |  |  |  |
September 25, 2025¹ |  | $ | 39 |  |  | $ | — |  |  | $ | 39 |  |  | $ | — |
September 30, 2025² |  | 18 |  |  | — |  |  | 8 |  |  | 10 |
Consumers³ |  |  |  |  |  |  |  |
June 5, 2023 |  | $ | 850 |  |  | $ | — |  |  | $ | 7 |  |  | $ | 843 |
November 19, 2021 |  | 250 |  |  | — |  |  | 1 |  |  | 249 |
April 18, 2022 |  | 30 |  |  | — |  |  | 30 |  |  | — |
1 | This letter of credit facility is available to Aviator Wind Equity Holdings. For information regarding the acquisition of Aviator Wind Equity Holdings, see Note 15, Purchase of Variable Interest Entity.
2 | Under this facility, $8 million is available solely for the purpose of issuing letters of credit. Obligations under this facility are secured by the collateral accounts with the lending bank.
3 | Obligations under these facilities are secured by first mortgage bonds of Consumers.
Schedule of Forward Contracts Indexed to Issuer's Equity | Presented in the following table are details of CMS Energy’s remaining forward sales contracts under these programs at September 30, 2020:
|  |  | Forward Price Per Share
Contract Date | Maturity Date | Number of Shares |  | Initial |  | September 30, 2020 |
November 20, 2018 | March 31, 2021 | 777,899 |  |  | $ | 50.91 |  |  | $ | 48.83 |
February 21, 2019 | March 31, 2021 | 2,083,340 |  |  | 52.27 |  |  | 50.39 |
September 15, 2020 | December 31, 2021 | 846,759 |  |  | $ | 61.06 |  |  | $ | 61.04 |
Consumers Energy Company |
Debt Instrument [Line Items] |
Major Long-Term Debt Transactions | Presented in the following table is a summary of major long‑term debt retirements during the nine months ended September 30, 2020:
| Principal (In Millions) |  | Interest Rate |  | Retirement Date | Maturity Date
Consumers |  |  |  |  |
First mortgage bonds |  | $ | 100 |  | 3.770 | % | April | October 2020
First mortgage bonds |  | 250 |  | 5.300 | % | June | September 2022
First mortgage bonds |  | 375 |  | 2.850 | % | September | May 2022
Total Consumers |  | $ | 725 |  |  |  |
Total CMS Energy |  | $ | 725 |  |  |  |
Presented in the following table is a summary of major long‑term debt issuances during the nine months ended September 30, 2020:
| Principal (In Millions) |  | Interest Rate |  | Issuance Date | Maturity Date
CMS Energy, parent only |  |  |  |  |
Term loan facility¹ |  | $ | 300 |  | variable |  | February | February 2021
Junior subordinated notes² |  | 500 |  | 4.750 | % | May | June 2050
Total CMS Energy, parent only |  | $ | 800 |  |  |  |
Consumers |  |  |  |  |
Term loan facility³ |  | $ | 300 |  | variable |  | January | January 2021
First mortgage bonds |  | 575 |  | 3.500 | % | March | August 2051
First mortgage bonds |  | 525 |  | 2.500 | % | May | May 2060
First mortgage bonds 4 |  | 134 |  | variable |  | May | May 2070
Total Consumers |  | $ | 1,534 |  |  |  |
Total CMS Energy |  | $ | 2,334 |  |  |  |
1 | At September 30, 2020, the interest rate on the balance of this term loan facility was 0.606 percent, based on an interest rate of one-week LIBOR plus 0.500 percent.
2 | These unsecured obligations rank subordinate and junior in right of payment to all of CMS Energy’s existing and future senior indebtedness. On June 1, 2030, and every five years thereafter, the notes will reset to an interest rate equal to the five-year treasury rate plus 4.116 percent.
3 | At September 30, 2020, the interest rate on the balance of this term loan facility was 0.556 percent, based on an interest rate of one‑week LIBOR plus 0.450 percent.
4 The variable-rate bonds bear interest quarterly at a rate of three-month LIBOR minus 0.300 percent, subject to a zero‑percent floor (zero percent at September 30, 2020).
Revolving Credit Facilities | The following credit facilities with banks were available at September 30, 2020:
In Millions |
Expiration Date | Amount of Facility |  | Amount Borrowed |  | Letters of Credit Outstanding |  | Amount Available |
CMS Energy, parent only |  |  |  |  |  |  |  |
June 5, 2023 |  | $ | 550 |  |  | $ | — |  |  | $ | 5 |  |  | $ | 545 |
CMS Enterprises, including subsidiaries |  |  |  |  |  |  |  |
September 25, 2025¹ |  | $ | 39 |  |  | $ | — |  |  | $ | 39 |  |  | $ | — |
September 30, 2025² |  | 18 |  |  | — |  |  | 8 |  |  | 10 |
Consumers³ |  |  |  |  |  |  |  |
June 5, 2023 |  | $ | 850 |  |  | $ | — |  |  | $ | 7 |  |  | $ | 843 |
November 19, 2021 |  | 250 |  |  | — |  |  | 1 |  |  | 249 |
April 18, 2022 |  | 30 |  |  | — |  |  | 30 |  |  | — |
1 | This letter of credit facility is available to Aviator Wind Equity Holdings. For information regarding the acquisition of Aviator Wind Equity Holdings, see Note 15, Purchase of Variable Interest Entity.
2 | Under this facility, $8 million is available solely for the purpose of issuing letters of credit. Obligations under this facility are secured by the collateral accounts with the lending bank.
3 | Obligations under these facilities are secured by first mortgage bonds of Consumers.

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