Attached files
| file | filename |
|---|---|
| EX-10.01 - EXHIBIT 10.01 - DTE ENERGY CO | exhibit1001.htm |
UNITED STATES
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
Date of Report (Date of earliest event reported): April 16, 2015
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 (a Michigan corporation) One Energy Plaza Detroit, Michigan 48226-1279 313-235-4000 | 38-3217752 |
1-2198 | DTE Electric Company (a Michigan corporation) One Energy Plaza Detroit, Michigan 48226-1279 313-235-4000 | 38-0478650 |
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 April 16, 2015, DTE Electric Company ("DTE Electric") entered into a third amended and restated five-year unsecured revolving credit agreement by and among DTE Electric, the lenders party thereto, Barclays Bank PLC ("Barclays"), as Administrative Agent, and Citibank, N.A., JPMorgan Chase Bank, N.A. ("JPMorgan") and Wells Fargo Bank, National Association ("Wells Fargo") as Co-Syndication Agents. DTE Electric's aggregate availability under the five-year facility is increased to $400,000,000, an increase of $100,000,000 over its prior credit facility. Borrowings under the five-year facility will be available at prevailing short-term interest rates. The five-year facility will also support DTE Electric's commercial paper borrowings. The five-year facility expires in April 2020 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 April 16, 2015, DTE Electric terminated the Second Amended and Restated Five-Year Credit Agreement dated as of April 5, 2013, by and among DTE Electric, the lenders party thereto and Barclays as Administrative Agent. DTE Electric terminated these credit facilities because they have been replaced with the new DTE Electric five-year credit facility, dated as of April 16, 2015, 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 April 16, 2015, DTE Electric entered into an amended and restated five-year credit agreement for borrowings up to approximately $400,000,000, an increase of $100,000,000 over its prior credit facility. DTE Electric does not have any borrowings under the facility at this time.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
10.01 | Form of Third Amended and Restated Five-Year Credit Agreement, dated as of October 21, 2011, amended and restated as of April 5, 2013, and further amended and restated as of April 16, 2015, by and among DTE Electric Company, the lenders party thereto, Barclays Bank PLC., as Administrative Agent, and Citibank, N.A., JPMorgan Chase Bank, N.A. and Wells Fargo Bank, National Association 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: April 21, 2015
DTE ENERGY COMPANY (Registrant) | |
/s/PETER B. OLEKSIAK Peter B. Oleksiak Senior Vice President and Chief Financial Officer | |
DTE ELECTRIC COMPANY (Registrant) | |
/s/PETER B. OLEKSIAK Peter B. Oleksiak Senior Vice President and Chief Financial Officer | |
EXHIBIT INDEX
Exhibit Number | Description |
10.01 | Form of Third Amended and Restated Five-Year Credit Agreement, dated as of October 21, 2011, amended and restated as of April 5, 2013, and further amended and restated as of April 16, 2015, by and among DTE Electric Company, the lenders party thereto, Barclays Bank PLC., as Administrative Agent, and Citibank, N.A., JPMorgan Chase Bank, N.A. and Wells Fargo Bank, National Association as Co-Syndication Agents. |