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v3.23.1

Financings and Capitalization (Tables) | 3 Months Ended
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Mar. 31, 2023
Debt Instrument [Line Items] |
Schedule of Major Long-Term Debt Issuances and Retirements | Presented in the following table is a summary of major long-term debt retirements during the three months ended March 31, 2023:
| Principal (In Millions) | Interest Rate (%) | Retirement Date | Maturity Date
Consumers |  |  |  |  |
Term loan facility |  | $ | 1,000 |  | variable | February 2023 | January 2024
Schedule of Revolving Credit Facilities | The following credit facilities with banks were available at March 31, 2023:
In Millions
Expiration Date | Amount of Facility | Amount Borrowed | Letters of Credit Outstanding | Amount Available
CMS Energy, parent only |  |  |  |  |  |  |  |
December 14, 2027 1 |  | $ | 550 |  |  | $ | — |  |  | $ | 21 |  |  | $ | 529 |
September 22, 2024 |  | 50 |  |  | — |  |  | 50 |  |  | — |
NorthStar Clean Energy, including subsidiaries |  |  |  |  |  |  |  |
September 25, 2025 2 |  | $ | 37 |  |  | $ | — |  |  | $ | 37 |  |  | $ | — |
Consumers 3 |  |  |  |  |  |  |  |
December 14, 2027 |  | $ | 1,100 |  |  | $ | — |  |  | $ | 27 |  |  | $ | 1,073 |
November 18, 2024 |  | 250 |  |  | — |  |  | 27 |  |  | 223 |
1 There were no borrowings under this facility during the three months ended March 31, 2023. 2 This letter of credit facility is available to Aviator Wind Equity Holdings. For more information regarding Aviator Wind Equity Holdings, see Note 11, Variable Interest Entities. 3 Obligations under these facilities are secured by first mortgage bonds of Consumers. There were no borrowings under these facilities during the three months ended March 31, 2023.
Schedule of Forward Contracts | Presented in the following table are details of CMS Energy’s forward sales contracts under its equity offering program at March 31, 2023:
|  |  | Forward Price Per Share
Contract Date | Maturity Date | Number of Shares | Initial | March 31, 2023
August 3, 2022 | February 1, 2024 | 2,944,207 |  | 67.59 |  |  | 67.98 |
August 24, 2022 | February 26, 2024 | 1,677,938 |  | 69.46 |  |  | 69.89 |
August 29, 2022 | February 26, 2024 | 1,783,388 |  | 68.18 |  |  | 68.56 |
Consumers Energy Company |
Debt Instrument [Line Items] |
Schedule of Major Long-Term Debt Issuances and Retirements | Presented in the following table is a summary of major long-term debt issuances during the three months ended March 31, 2023:
| Principal (In Millions) | Interest Rate (%) | Issuance Date | Maturity Date
NorthStar Clean Energy, including subsidiaries |  |  |  |  |
Term loan facility 1 |  | $ | 85 |  | variable | February 2023 | September 2023
Total NorthStar Clean Energy, including subsidiaries |  | $ | 85 |  |  |  |
Consumers |  |  |  |  |
First mortgage bonds |  | $ | 425 |  | 4.650 | % | January 2023 | March 2028
First mortgage bonds |  | 700 |  | 4.625 |  | February 2023 | May 2033
Total Consumers |  | $ | 1,125 |  |  |  |
Total CMS Energy |  | $ | 1,210 |  |  |  |
1 In December 2022, a subsidiary of NorthStar Clean Energy entered into a $185 million unsecured term loan credit agreement. Under this credit agreement, a subsidiary of NorthStar Clean Energy borrowed $85 million in 2023. As of March 31, 2023, there was $185 million of loans outstanding bearing an interest rate of 5.806 percent under the unsecured term loan credit agreement.
Schedule of Revolving Credit Facilities | The following credit facilities with banks were available at March 31, 2023:
In Millions
Expiration Date | Amount of Facility | Amount Borrowed | Letters of Credit Outstanding | Amount Available
CMS Energy, parent only |  |  |  |  |  |  |  |
December 14, 2027 1 |  | $ | 550 |  |  | $ | — |  |  | $ | 21 |  |  | $ | 529 |
September 22, 2024 |  | 50 |  |  | — |  |  | 50 |  |  | — |
NorthStar Clean Energy, including subsidiaries |  |  |  |  |  |  |  |
September 25, 2025 2 |  | $ | 37 |  |  | $ | — |  |  | $ | 37 |  |  | $ | — |
Consumers 3 |  |  |  |  |  |  |  |
December 14, 2027 |  | $ | 1,100 |  |  | $ | — |  |  | $ | 27 |  |  | $ | 1,073 |
November 18, 2024 |  | 250 |  |  | — |  |  | 27 |  |  | 223 |
1 There were no borrowings under this facility during the three months ended March 31, 2023. 2 This letter of credit facility is available to Aviator Wind Equity Holdings. For more information regarding Aviator Wind Equity Holdings, see Note 11, Variable Interest Entities. 3 Obligations under these facilities are secured by first mortgage bonds of Consumers. There were no borrowings under these facilities during the three months ended March 31, 2023.

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