Xcel Energy to offer senior notes via four bookrunners

By William Gullotti

Buffalo, N.Y., Feb. 26 – Xcel Energy Inc. is offering fixed-rate senior notes, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will be optionally redeemable with a make-whole premium until a par call date when they can be redeemed at par for the remainder of the life of the notes.

Citigroup Global Markets Inc., PNC Capital Markets LLC, Wells Fargo Securities, LLC and BNP Paribas Securities Corp. are leading the sale as joint bookrunning managers.

Independence Point Securities LLC and Penserra Securities LLC are joining as co-managers.

U.S. Bank Trust Co., NA will be the trustee.

The company is using in-house counsel and Jones Day for legal opinions. Hunton Andrews Kurth LLP is advising the underwriters.

Proceeds will be used to repay short-erm borrowings, including commercial paper, and for other general corporate purposes. As of Dec. 31, 2023, there was $785 million of short-term borrowings outstanding on a consolidated basis, which included $165 million of commercial paper outstanding at the company, with a weighted average annual interest rate of 5.52%.

The public utility holding company for Northern States Power in Minnesota and Wisconsin, Public Service Co. of Colorado and Southwestern Public Service Co. is based in Minneapolis.

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