Company: DTK
Filing Date: 2025-04-04
Form Type: S-3ASR
Source: 0001193125-25-073369
Chunk: 48

Company: DTE ENERGY CO
Filing Date: 2025-04-04
Form: S-3ASR
Chunk 48
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, mortgage bonds of various series, aggregating $242 million in principal amount, were issued as security for
various series of outstanding industrial development revenue bonds or as security for the insurance applicable to such revenue bonds. In addition, mortgage bonds of various other series, aggregating $11.0 billion in principal amount, were
directly issued or issued as security for various series of DTE Electric’s outstanding notes issued under the indenture. Of the $11.3 billion total outstanding mortgage bonds, $1.0 billion are subject to the release provisions
described below under “— Provisions Applicable to All Debt Securities Other Than Mortgage Bonds — Security; Pledge of Mortgage Bonds — Release Date.” Such bonds contain provisions that correspond to the
revenue bonds or notes they collateralize in respect of principal amounts, interest rates, maturity dates and redemption. All payments of interest on, and reductions of the principal amounts of, such revenue bonds or notes will be credited as
payments to, or will give rise to reductions of principal amounts of, the corresponding bonds issued under the mortgage. At the date of this prospectus, since December 31, 2024, the Company has redeemed $350 million of general and
refunding mortgage bonds.

Security and Priority

The mortgage is a first lien (subject only to excepted encumbrances as described in the mortgage) on a substantial portion of DTE
Electric’s properties and franchises and will (subject to the necessity for particular filings and recordings in the case of certain personal property) constitute a first lien on any such properties hereafter acquired by DTE Electric, except
that (1) after-acquired property will be subject to prior liens and encumbrances, if any, existing when acquired by DTE Electric, (2) the mortgage will not become a lien upon after-acquired real property in a new county until it has been
duly filed and recorded, and (3) the mortgage may not be effective as to property acquired subsequent to the filing of a bankruptcy proceeding with respect to DTE Electric. The mortgage is not a lien on (a) equipment, materials or supplies
purchased for resale or (b) securities or cash not specifically pledged and deposited with the mortgage trustee.

The mortgage bonds
will rank equally as to security with all mortgage bonds of all other series outstanding under the mortgage except insofar as any sinking, improvement or analogous fund may be deemed to afford additional security for the mortgage bonds of any series
and except that, as