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CMS Energy Becomes First U.S. Company to Enter Sustainability-Linked Loan

 

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CMS Energy and its primary subsidiary, Consumers Energy (collectively "CMS"), announced they have entered the first syndicated sustainability-linked revolving credit facilities for a U.S. borrower.

The aggregate $1.4 billion of new credit facilities allow CMS to reduce its interest rate by meeting targets related to environmental sustainability, specifically renewable energy generation.    

 

"We believe a company can serve more than the bottom line. We are committed to a triple bottom line that's measured by our actions to support people, planet and prosperity," said Patti Poppe, CMS Energy's president and chief executive officer. "We are excited to be a trendsetter in the United States entering an innovative credit facility, where sustainability and financial results go hand-in-hand."

CMS Energy this year announced clean energy goals that include:

  • Zero coal used to generate electricity by 2040.
  • Reducing carbon emissions by 80 percent by 2040.
  • Meeting a renewable energy goal of more than 40 percent by 2040. 

"Our company has a proud history of leaving it better than we found it, and we are confident that our new clean energy goals will support our commitment to deliver consistent, industry-leading financial performance," Poppe said.

Barclays, J.P. Morgan, MUFG, Mizuho and BofA Merrill Lynch acted as Joint Lead Arrangers for the facilities. Barclays acted as Sustainability Structuring Agent. 

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