By Cristal Cody
Tupelo, Miss., Nov. 27 – Northern States Power Co. priced $100 million of 3.75% 30-year first mortgage bonds (Aa3/A/A+) at 99.732 to yield 3.765%, or a spread of Treasuries plus 100 basis points, on Monday, according to an FWP filing with the Securities and Exchange Commission.
Credit Suisse Securities (USA) LLC and Morgan Stanley & Co. LLC were the bookrunners.
Proceeds will be used to repay short-term debt and for general corporate purposes.
The electric and natural gas utility is based in Eau Claire, Wis.
| Issuer: | Northern States Power Co.
|
| Amount: | $100 million
|
| Description: | First mortgage bonds
|
| Maturity: | Dec. 1, 2047
|
| Bookrunners: | Credit Suisse Securities (USA) LLC and Morgan Stanley & Co. LLC
|
| Coupon: | 3.75%
|
| Price: | 99.732
|
| Yield: | 3.765%
|
| Spread: | Treasuries plus 100 bps
|
| Call features: | Make-whole call at Treasuries plus 15 bps before June 1, 2047; thereafter at par
|
| Trade date: | Nov. 27
|
| Settlement date: | Dec. 4
|
| Ratings: | Moody’s: Aa3
|
| S&P: A
|
| Fitch: A+
|
| Distribution: | SEC registered
|
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