Financings and Capitalization (Tables)

3 Months Ended

Mar. 31, 2019

Financings: Presented in the following table is a summary of major long‑term debt transactions during the three months ended March 31, 2019:


¹	These unsecured obligations rank subordinate and junior in right of payment to all of CMS Energy’s existing and future senior indebtedness.

Revolving Credit Facilities: The following revolving credit facilities with banks were available at March 31, 2019:



In Millions
Expiration Date	Amount of Facility			Amount Borrowed			Letters of Credit Outstanding			Amount Available
CMS Energy, parent only
June 5, 2023		$	550		$	—		$	4		$	546
CMS Enterprises, including subsidiaries
September 30, 2025¹		$	18		$	—		$	8		$	10
Consumers²
June 5, 2023		$	850		$	—		$	7		$	843
November 23, 2020		250			—			15			235
September 9, 2019		30			—			30			—


¹	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.


²	Obligations under these facilities are secured by first mortgage bonds of Consumers.

Presented in the following table are details of these contracts:



Contract Date	Maturity Date	Number of Shares	Initial Forward Price Per Share
November 16, 2018	May 16, 2020	2,017,783		$	49.06
November 20, 2018	May 20, 2020	777,899		50.91
February 21, 2019	August 21, 2020	2,083,340		52.27

Financings: Presented in the following table is a summary of major long‑term debt transactions during the three months ended March 31, 2019:


¹	These unsecured obligations rank subordinate and junior in right of payment to all of CMS Energy’s existing and future senior indebtedness.

Revolving Credit Facilities: The following revolving credit facilities with banks were available at March 31, 2019:



In Millions
Expiration Date	Amount of Facility			Amount Borrowed			Letters of Credit Outstanding			Amount Available
CMS Energy, parent only
June 5, 2023		$	550		$	—		$	4		$	546
CMS Enterprises, including subsidiaries
September 30, 2025¹		$	18		$	—		$	8		$	10
Consumers²
June 5, 2023		$	850		$	—		$	7		$	843
November 23, 2020		250			—			15			235
September 9, 2019		30			—			30			—


¹	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.


²	Obligations under these facilities are secured by first mortgage bonds of Consumers.