Core Viewpoint - California Water Service Group announced the sale of $170 million in Senior Unsecured Notes and $200 million in First Mortgage Bonds to refinance existing debt and for general corporate purposes [1][4]. Group Overview - California Water Service Group is the parent company of regulated utilities including Cal Water, Hawaii Water Service, New Mexico Water Service, Washington Water Service, and Texas Water Service, serving over 2.1 million people across multiple states [6]. Financial Details - The Senior Unsecured Notes include $70 million of 4.87% notes due October 1, 2032, and $100 million of 5.22% notes due October 1, 2035, rated "A" by S&P Global [2]. - The First Mortgage Bonds consist of $200 million of 5.64% bonds maturing October 1, 2055, rated "AA-" by S&P [2]. Interest Payment Structure - Interest on both the Notes and Bonds will accrue semi-annually and be payable in arrears, with the Notes ranking equally with the Group's existing indebtedness [3]. Use of Proceeds - The net proceeds from the sale of the Notes will be used to refinance existing debt and for general corporate purposes, while the proceeds from the Bonds will also be allocated for refinancing existing debt and general corporate purposes as per California Public Utilities Code [4].

Core Viewpoint - CMS Energy Corporation has initiated a cash tender offer for up to $125 million of outstanding bonds issued by Consumers Energy Company, with specific terms and conditions outlined in the Offer to Purchase [1][6]. Summary by Relevant Sections Tender Offer Details - The tender offer is for an aggregate principal amount of $125 million of the bonds, subject to acceptance priority levels and series tender caps [4][10]. - The tender offer will expire at 5:00 p.m. New York City time on July 3, 2025, with an early tender date of June 17, 2025, for holders to receive total consideration [6][11]. Bonds Information - The bonds involved include various series with different interest rates and maturity dates, such as: - 2.500% First Mortgage Bonds due 2060 with an outstanding amount of $525 million [3]. - 2.650% First Mortgage Bonds due 2052 with an outstanding amount of $300 million [3]. - 3.100% First Mortgage Bonds due 2050 with an outstanding amount of $550 million [3]. - 3.250% First Mortgage Bonds due 2046 with an outstanding amount of $450 million [3]. - 3.500% First Mortgage Bonds due 2051 with an outstanding amount of $575 million [3]. Consideration and Payments - Total consideration for bonds validly tendered before the early tender date will include an early tender payment, calculated based on fixed spreads and U.S. Treasury reference yields [5][8]. - Holders of bonds accepted for purchase will receive accrued and unpaid interest from the last interest payment date up to the settlement date [7]. Acceptance Priority Levels - Bonds will be accepted based on their acceptance priority levels, with the highest priority given to those tendered before the early tender date [10]. - If the aggregate principal amount of any series exceeds the aggregate tender cap, proration may occur [10]. Additional Information - U.S. Bancorp Investments, Inc. is acting as the dealer manager for the tender offer, and D.F. King & Co. Inc. is the information and tender agent [15]. - The company reserves the right to amend the tender offer, including increasing or decreasing the aggregate tender cap [4][14].