Attached files
file | filename |
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EX-10.2 - EXHIBIT 10.2 - DTE Electric Co | c05397exv10w2.htm |
EX-10.1 - EXHIBIT 10.1 - DTE Electric Co | c05397exv10w1.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 20, 2010
Commission File Number |
Exact Name of Registrant as Specified
in its Charter, State of Incorporation, Address of Principal Executive Offices and Telephone Number |
I.R.S. Employer Identification No. | ||
1-11607
|
DTE Energy Company
|
38-3217752 | ||
(a Michigan corporation) |
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One Energy Plaza |
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Detroit, Michigan 48226-1279 |
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313-235-4000 |
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1-2198 |
The Detroit Edison Company |
38-0478650 | ||
(a Michigan corporation) |
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One Energy Plaza |
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Detroit, Michigan 48226-1279 |
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313-235-4000 |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 1.01. Entry into a Material Definitive Agreement.
On August 20, 2010, The Detroit Edison Company (Detroit Edison) entered into an amended and
restated two-year unsecured revolving credit agreement by and among Detroit Edison, the lenders
party thereto, Barclays Bank PLC (Barclays), as Administrative Agent, and Citibank, N.A.
(Citibank), JPMorgan Chase Bank, N.A. (JPMorgan) and The Royal Bank of Scotland plc (RBS), as
Co-Syndication Agents. Detroit Edisons aggregate availability under the two-year facility is
approximately $212 million. Borrowings under the two-year facility will be available at prevailing
short-term interest rates. The two-year facility will also support Detroit Edisons commercial paper
borrowings. The two-year facility expires in August 2012 and requires the maintenance of a debt to
capitalization ratio of no more than .65 to 1.
On August 20, 2010, Detroit Edison entered into a new three-year unsecured revolving credit
agreement by and among Detroit Edison, Barclays as Administrative Agent, and Citibank, JPMorgan and
RBS, as Co-Syndication Agents. Detroit Edisons aggregate availability under the new facility is
approximately $63 million. Borrowings under the new facility will be available at prevailing
short-term interest rates. The new facility will also support Detroit Edisons commercial paper
borrowings. The new facility expires in August 2013 and requires the maintenance of a debt to
capitalization ratio of no more than .65 to 1.
Item 1.02. Termination of a Material Definitive Agreement.
Effective August 20, 2010, Detroit Edison terminated the Five-Year Credit Agreement, dated as
of October 17, 2005, by and among Detroit Edison, the lenders party thereto and Barclays, as
Administrative Agent. Detroit Edison terminated this credit facility because it has been replaced
with the new three-year credit facility, dated as of August 20, 2010, as discussed under Item 1.01
above.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet
Arrangement of a Registrant.
As discussed under Item 1.01 above, on August 20, 2010, Detroit Edison entered into a amended
and restated two-year credit agreement for borrowings up to approximately $212 million. Detroit
Edison does not have any borrowings under the facility at this time.
As discussed under Item 1.01 above, on August 20, 2010, Detroit Edison entered into a new
three-year credit agreement for borrowings up to approximately $63 million. Detroit Edison does
not have any borrowings under the facility at this time.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
10.1 | Form of Amended and Restated Detroit Edison Two-Year Credit
Agreement, dated as of April 29, 2009 and amended and restated as of
August 20, 2010, by and among Detroit Edison, the lenders party
thereto, Barclays, as Administrative Agent, and Citibank, JPMorgan
and RBS, as Co-Syndication Agents. |
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10.2 | Form of Detroit Edison Three-Year Credit Agreement, dated as of
August 20, 2010, by and among Detroit Edison, the lenders party
thereto, Barclays, as Administrative Agent, and Citibank, JPMorgan
and RBS, as Co-Syndication Agents. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly
caused this report to be signed on their behalf by the undersigned hereunto duly authorized.
Date: August 26, 2010
|
DTE ENERGY COMPANY (Registrant) |
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/s/ David R. Murphy
|
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Assistant Treasurer | ||||
THE DETROIT EDISON COMPANY | ||||
(Registrant) | ||||
/s/ David R. Murphy
|
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Assistant Treasurer |
EXHIBIT INDEX
Exhibit | ||||
Number | Description | |||
10.1 | Form of Amended and Restated Detroit Edison Two-Year Credit
Agreement, dated as of April 29, 2009 and amended and restated as
of August 20, 2010, by and among Detroit Edison, the lenders party
thereto, Barclays, as Administrative Agent, and Citibank, JPMorgan
and RBS, as Co-Syndication Agents. |
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10.2 | Form of Detroit Edison Three-Year Credit Agreement, dated as of
August 20, 2010, by and among Detroit Edison, the lenders party
thereto, Barclays, as Administrative Agent, and Citibank, JPMorgan
and RBS, as Co-Syndication Agents. |