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DTE prices equity units

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World Pipelines,

DTE Energy Company (DTE) has recently announced that it has priced its offering of 12 million equity units.

Each equity unit will be issued in a stated amount of US$50 (US$600 million aggregate stated amount) and will consist of a contract to purchase common stock in the future and a 5% undivided beneficial ownership interest in DTE's 2016 Series C remarketable senior notes, due in 2024.

The remarketable senior notes are subject to remarketing, which may commence no earlier than 27 June 2019. The offering is expected to close on 5 October 2016, subject to customary closing conditions.

DTE has granted the underwriters the option to purchase during a 13 day period beginning on, and including, the initial issuance date of the equity units, up to 1.5 million additional equity units, or an additional aggregate stated amount of US$75 million.

Net proceeds from this offering are expected to be US$582 million in the aggregate or US$655 million in the aggregate if the overallotment option is exercised in full. DTE intends to use the proceeds for the purchase of midstream natural gas assets.

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