Chicago, July 15 – Northern States Power Co. placed $100 million of 4.86% first mortgage bonds due 2052 on Friday with certain institutional investors, according to an 8-K filing with the Securities and Exchange Commission.
There will be a make-whole call until March 15, 2052. After that, the bonds will be redeemable at par.
KeyBanc Capital Markets Inc. was the placement agent.
Proceeds will be used for general corporate purposes, including meeting its working capital requirements, funding capital expenditures and repaying short-term debt.
The electric and natural gas utility is based in Minneapolis.
| Issuer: | Northern States Power Co.
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| Amount: | $100 million
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| Issue: | First mortgage bonds
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| Maturity: | Sept. 15, 2052
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| Placement agent: | KeyBanc Capital Markets Inc.
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| Trustee: | U.S. Bank Trust Co.
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| Coupon: | 4.86%
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| Price: | Par
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| Call features: | Make-whole call at Treasuries plus 50 bps until March 15, 2052; thereafter at par
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| Trade date: | July 15
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| Settlement date: | Sept. 12
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| Distribution: | Section 4(a)(2)
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