Public Service Co. of Colorado talks $750 million of 10-year bonds at Treasuries plus 80 bps area

By Devika Patel and Cristal Cody

Knoxville, Tenn., Feb. 22 – Public Service Co. of Colorado expects to price $750 million of first mortgage bonds, series No. 37, due June 15, 2031, according to a 424B5 filed with the Securities and Exchange Commission and a market source.

Initial price talk is in the Treasuries plus 80 basis points area, according to a market source.

The notes feature a make-whole call and then a par call.

CIBC World Markets Corp., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, KeyBanc Capital Markets Inc. and RBC Capital Markets Corp. are the bookrunners. Senior co-managers are BNP Paribas Securities Corp., BNY Mellon Capital Markets LLC and Goldman Sachs & Co. LLC. The co-managers are Academy Securities Inc. and Fifth Third Securities Inc.

Proceeds will be used to repay short-term debt and for general corporate purposes.

Public Service Co. of Colorado is an electric and natural gas company based in Denver and a subsidiary of Xcel Energy Inc.

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