Southwestern Public Service eyes sale of 30-year first mortgage bonds

By Devika Patel

Knoxville, Tenn., Aug. 2 – Southwestern Public Service Co. expects to price first mortgage bonds, series No. 5, due 2047, according to a 424B5 filed with the Securities and Exchange Commission.

The notes are callable with 30 days’ notice.

KeyBanc Capital Markets Inc., Mizuho Securities USA Inc., U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC are the bookrunners.

Proceeds will be used for short-term debt repayment, the Aug. 30 redemption of the company’s $250 million of 8.75% series G senior notes due Dec. 1, 2018 and for general corporate purposes.

Amarillo, Texas-based Southwestern Public Service generates, purchases, distributes and sells electricity in portions of Texas and New Mexico.

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