MINNEAPOLIS--(BUSINESS WIRE)--
Xcel Energy Inc. (NYSE: XEL) (Xcel Energy) today announced that it
closed an offering of $250.0 million in aggregate principal amount of
its 4.80% senior unsecured notes due September 15, 2041 (the Notes). The
Notes are redeemable at any time subject to certain “make whole”
provisions prior to March 15, 2041. On and after this date, the Notes
are callable at par.
Net proceeds from the sale of the Notes will be used to repay short-term
debt borrowings and for other general corporate purposes.
Barclays Capital Inc., Morgan Stanley & Co. LLC and RBS Securities Inc.,
acted as joint book-running managers for the offering.
This announcement does not constitute an offer to sell or the
solicitation of an offer to buy these securities nor shall there be any
sale of these securities in any jurisdiction in which an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction. The
offering is being made only by means of a prospectus and related
prospectus supplement. A prospectus supplement related to the offering
has been filed with the Securities and Exchange Commission. Copies of
the prospectus supplement and accompanying prospectus for the offering
may be obtained on the Securities and Exchange Commission’s website at www.sec.gov.
Alternatively, any underwriter or dealer participating in the offering
will send you the prospectus if you request it by calling (i) Barclays
Capital Inc., toll free 1-888-603-5847, (ii) Morgan Stanley & Co. LLC,
toll free at 1-866-718-1649 (iii) RBS Securities Inc., toll free at
1-866-884-2071.
This announcement contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995 that reflect
management’s current views with respect to future events, based on what
Xcel Energy believes are reasonable assumptions. No assurance can be
given, however, that these events will occur, including the closing of
the above mentioned offering. Such forward-looking statements are
intended to be identified in this document by the words “anticipate,”
“believe,” “estimate,” “expect,” “intend,” “may,” “objective,”
“outlook,” “plan,” “project,” “possible,” “potential,” “should” and
similar expressions. Actual results may vary materially. Factors that
could cause actual results to differ materially include, but are not
limited to: general economic conditions, including the availability of
credit and its impact on capital expenditures and the ability of Xcel
Energy and its subsidiaries to obtain financing on favorable terms;
business conditions in the energy industry; including the risk of a slow
down in the U.S. economy or delay in growth recovery; trade, fiscal,
taxation and environmental policies in areas where Xcel Energy has a
financial interest; customer business conditions; actions of credit
rating agencies; competitive factors, including the extent and timing of
the entry of additional competition in the markets served by Xcel Energy
and its subsidiaries; unusual weather; effects of geopolitical events,
including war and acts of terrorism; state, federal and foreign
legislative and regulatory initiatives that affect cost and investment
recovery, have an impact on rates or have an impact on asset operation
or ownership or impose environmental compliance conditions; structures
that affect the speed and degree to which competition enters the
electric and natural gas markets; costs and other effects of legal and
administrative proceedings, settlements, investigations and claims;
financial or regulatory accounting policies imposed by regulatory
bodies; availability of cost of capital; employee work force factors and
the other risk factors listed from time to time by Xcel Energy in
reports filed with the Securities and Exchange Commission (SEC),
including Risk Factors in Item 1A and Exhibit 99.01 of Xcel Energy’s
Annual Report on Form 10-K for the year ended December 31, 2010 and on
Xcel Energy’s Quarterly Reports on Form 10-Q for the quarters ended
March 31, 2011 and June 30, 2011. Xcel Energy assumes no obligation to
update any forward-looking information contained in this news release.
Source: Xcel Energy Inc.
Contact:
Xcel Energy
Financial analysts:
Paul Johnson,
612-215-4535
Managing Director, Investor Relations & Assistant
Treasurer
or
News media inquiries:
Xcel Energy Media
Relations, 612-215-5300