Northern States Power plans offering of 30-year first mortgage bonds

By Devika Patel

Knoxville, Tenn., Sept. 6 – Northern States Power Co. is selling first mortgage bonds due Sept. 15, 2047, according to a 424B5 filing with the Securities and Exchange Commission.

Barclays, BNY Mellon Capital Markets LLC, BofA Merrill Lynch and PNC Capital Markets LLC are the bookrunners. The co-managers are Fifth Third Securities Inc. and Loop Capital Markets LLC.

Proceeds will be used to repay short-term debt, to redeem $500 million of 5.25% first mortgage bonds on Sept. 29 and for general corporate purposes.

The electric and natural gas utility is based in Minneapolis.

© 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.