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Northern States Power to sell $100 million 30-year mortgage bonds
By Andrea Heisinger
New York, Oct. 2 - Northern States Power Co. is in the market Tuesday with a $100 million offering of 30-year first mortgage bonds (A1/A/A+), an informed source said.
The bonds will be due on Oct. 1, 2042. There will be a make-whole call option until April 1, 2042, with a par call after that date.
Bookrunners are 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.
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