By Andrea Heisinger
New York, Oct. 2 - Northern States Power Co. sold $100 million of 3.7% 30-year first mortgage bonds (A1/A/A+) on Tuesday at Treasuries plus 95 basis points, according to an FWP filing with the Securities and Exchange Commission.
The bonds were sold at 99.177 to yield 3.746%. There will be a make-whole call option at 15 bps over Treasuries until April 1, 2042, with a par call after that date.
Bookrunners were Citigroup Global Markets Inc. and Mitsubishi UFJ Securities (USA) Inc.
Proceeds will be used to repay short-term borrowings incurred for daily operational needs and for general corporate purposes.
The electric and national gas subsidiary of Xcel Energy is based in Eau Claire, Wis.
| Issuer: | Northern States Power Co.
|
| Issue: | First mortgage bonds
|
| Amount: | $100 million
|
| Maturity: | Oct. 1, 2042
|
| Bookrunners: | Citigroup Global Markets Inc., Mitsubishi UFJ Securities (USA) Inc.
|
| Coupon: | 3.7%
|
| Price: | 99.177
|
| Yield: | 3.746%
|
| Spread: | Treasuries plus 95 bps
|
| Call: | Make-whole at Treasuries plus 15 bps until April 1, 2042, par call after
|
| Trade date: | Oct. 2
|
| Settlement date: | Oct. 10
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A
|
| Fitch: A+
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
