By Andrea Heisinger
New York, Nov. 9 - Northern States Power Co. priced $300 million of 5.35% 30-year first mortgage bonds on Monday to yield 98 basis points over Treasuries, according to an FWP filing with the Securities and Exchange Commission.
The notes (A1/A/A+) priced at 99.81 to yield 5.363%. They have a make-whole call at Treasuries plus 15 bps.
Bookrunners were Barclays Capital Inc., KeyBanc Capital Markets Inc. and RBS Securities Inc.
BNY Securities and U.S. Bancorp Investments were co-managers.
Proceeds are being added to the company's general fund and applied to short-term debt repayment. This includes repayment of $250 million in 6.875% notes.
The electric and natural gas subsidiary of Xcel Energy is based in Minneapolis.
| Issuer: | Northern States Power Co.
|
| Issue: | First mortgage bonds
|
| Amount: | $300 million
|
| Maturity: | Nov. 1, 2039
|
| Bookrunners: | Barclays Capital Inc., KeyBanc Capital Markets Inc., RBS Securities Inc.
|
| Co-managers: | BNY Securities, U.S. Bancorp Investments
|
| Coupon: | 5.35%
|
| Price: | 99.81
|
| Yield: | 5.363%
|
| Spread: | Treasuries plus 98 bps
|
| Call: | Make-whole at Treasuries plus 15 bps
|
| Trade date: | Nov. 9
|
| Settlement date: | Nov. 17
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A
|
| Fitch: A+
|
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