MINNEAPOLIS--(BUSINESS WIRE)--
Xcel Energy Inc. (NYSE: XEL) subsidiary Southwestern Public Service
Company (SPS) today announced that it closed an offering of $100.0
million in aggregate principal amount of its 4.50% first mortgage bonds
due August 15, 2041 (the Bonds). The Bonds are redeemable at any time
subject to certain “make whole” provisions prior to February 15, 2041.
On and after this date, the Bonds are callable at par.
SPS intends to use a portion of the net proceeds from the sale of the
Bonds to repay short-term debt borrowings incurred to fund its daily
operational needs. The balance of the net proceeds will be used for
general corporate purposes.
Citigroup Global Markets Inc. and Deutsche Bank 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) Citigroup
Global Markets Inc., toll free at 1-877-858-5407 and (ii) Deutsche Bank
Securities Inc., toll free at 1-800-503-4611.
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
SPS believes are reasonable assumptions. No assurance can be given,
however, that these events will occur,. 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 inflation
rates, monetary fluctuations and their impact on capital expenditures
and the ability of SPS 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 SPS 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 SPS; 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 market; 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 SPS in
reports filed with the Securities and Exchange Commission (SEC),
including Risk Factors in Item 1A and Exhibit 99.01 of SPS’ Annual
Report on Form 10-K for the year ended December 31, 2011 and on SPS’
Quarterly Reports on Form 10-Q for the quarter ended March 31, 2012. SPS
assumes no obligation to update any forward-looking information
contained in this news release.
Xcel Energy
Financial analysts:
Paul Johnson, 612-215-4535
Vice
President, Investor Relations & Financial Management
or
News
media inquiries:
Xcel Energy Media Relations, 612-215-5300
Source: Xcel Energy