dte-20220624


Michigan						38-3217752
(State or other jurisdiction of incorporation or organization)						(I.R.S Employer Identification No.)

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:

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Title of Each Class

Trading Symbol(s)

Name of Exchange on which Registered

Common stock, without par value

DTE

New York Stock Exchange

2017 Series E 5.25% Junior Subordinated Debentures due 2077

DTW

New York Stock Exchange

2019 6.25% Corporate Units

DTP

New York Stock Exchange

2020 Series G 4.375% Junior Subordinated Debentures due 2080

DTB

New York Stock Exchange

2021 Series E 4.375% Junior Subordinated Debentures due 2081

DTG

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 under the Securities Act (17 CFR 230.405) or Rule 12b-2 under Exchange Act (17 CFR 240.12b-2).

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

On June 24, 2022 (the “Effective Date”), DTE Energy Company (“DTE Energy”) entered into a Term Loan Credit Agreement (the “Term Loan Agreement”) with lenders from time to time party thereto and The Bank of Nova Scotia, as administrative agent for such lenders. The Term Loan Agreement will terminate on December 22, 2023 and provides for borrowings up to an aggregate principal amount of $1,125,000,000 with an accordion feature for up to an additional $75,000,000.

There were no amounts borrowed under the Term Loan Agreement as of the Effective Date. The Term Loan Agreement requires DTE Energy to draw (i) an aggregate principal amount of at least $400,000,000 on or before August 23, 2022 and (ii) an aggregate principal amount of at least $800,000,000 on or before December 21, 2022. DTE Energy intends to use the proceeds from borrowings under the Term Loan Agreement for general corporate purposes.

Borrowings under the Term Loan Agreement will, at DTE Energy’s option, bear interest on the principal amount outstanding at either (i) term Secured Overnight Financing Rate (SOFR) plus an applicable margin rate plus a credit spread adjustment of 10 basis points or (ii) a “base rate” plus an applicable margin rate.

The Term Loan Agreement contains customary covenants and events of default, which are substantially consistent with the provisions of DTE Energy’s existing Fourth Amended and Restated Five-Year Credit Agreement, dated as of April 15, 2019. In addition, the Term Loan Agreement requires that DTE Energy maintain a ratio of total funded debt to capitalization of at least (i) 0.70:1 until December 31, 2022 and (ii) 0.65:1 thereafter, subject to the conditions and calculated as described in the Term Loan Agreement.

The lenders under the Term Loan Agreement or their affiliates may have in the past performed, and may in the future from time to time perform, investment banking, financial advisory, lending or commercial banking services, or other services for DTE Energy and its subsidiaries, for which they have received, and may in the future receive, customary compensation and expense reimbursement.

The foregoing description of the Term Loan Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Term Loan Agreement, a copy of which will be filed with the DTE Energy’s Quarterly Report on Form 10-Q for the quarter ending June 30, 2022.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

The information set forth under Item 1.01 of this Current Report on Form 8-K is incorporated by reference in this Item 2.03.

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


			DTE Energy Company
			(Registrant)

			/s/David Rudd
			David Rudd
			Senior Vice President and Chief Financial Officer



104			Cover Page Interactive Data File (embedded within the Inline XBRL document).