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Northern States Power selling $400 million 10-year bonds Monday
By Andrea Heisinger
New York, May 13 - Northern States Power Co. is planning to sell $400 million first mortgage bonds due May 15, 2023 (A1/A/A+) Monday, according to a market source and a 424B5 filing with the Securities and Exchange Commission.
There will be a make-whole call option until Nov. 15, 2022 and a par call after that date.
Bookrunners are BNY Mellon Capital Markets LLC, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and Morgan Stanley & Co. LLC.
Proceeds will be added to the company's general corporate funds and used for repayment of short-term borrowings.
Northern States last sold bonds in a $100 million sale of 30-year bonds on Oct. 2, 2012.
The electric and natural gas utility is based in Minneapolis.
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