Northern States Power intends to offer green first mortgage bonds

By Mary-Katherine Stinson

Lexington, Ky., May 2 – Northern States Power Co. plans to offer first mortgage bonds, according to a 424B2 filing with the Securities and Exchange Commission on Monday.

The notes are callable with a make-whole premium until a number of months before the maturity date when they will be callable at par.

The joint bookrunning managers of the offering are Citigroup Global Markets Inc., MUFG, TD Securities (USA) LLC, BNY Mellon Capital Markets, LLC and Credit Suisse Securities (USA) LLC.

The co-managers are R. Seelaus & Co., Inc. and Fifth Third Securities Inc.

Bank of New York Mellon Trust Co., NA is the trustee.

Legal counsel will be provided to the issuer by in-house counsel and also by Jones Day. Counsel to the underwriters is provided by Hunton Andrews Kurth LLP.

Proceeds will be used for eligible green expenditures.

The electric and natural gas utility is based in Minneapolis.

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