By Taylor Fox and Cristal Cody
New York, Feb. 22 – Public Service Co. of Colorado priced $750 million of 1.875% 10-year first mortgage bonds, series 37 (A1/A/A+) at a spread of 58 basis points over Treasuries, according to an FWP filed with the Securities and Exchange Commission.
The notes priced at 99.333 to yield 1.947%.
The notes were talked in the Treasuries plus 80 bps area, according to a market source.
CIBC World Markets Corp., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, KeyBanc Capital Markets Inc. and RBC Capital Markets LLC are the bookrunners.
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.
| Issuer: | Public Service Co. of Colorado
|
| Amount: | $750 million
|
| Securities: | First mortgage bonds
|
| Maturity: | June 15, 2031
|
| Bookrunners: | CIBC World Markets Corp., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, KeyBanc Capital Markets Inc. and RBC Capital Markets LLC
|
| Senior co-managers: | BNP Paribas Securities Corp., BNY Mellon Capital Markets LLC and Goldman Sachs & Co. LLC
|
| Co-managers: | Academy Securities Inc. and Fifth Third Securities Inc.
|
| Coupon: | 1.875%
|
| Price: | 99.333
|
| Yield: | 1.947%
|
| Spread: | Treasuries plus 58 bps
|
| Call features: | Make-whole call at Treasuries plus 10 bps until Dec. 15, 2030; thereafter at par
|
| Trade date: | Feb. 22
|
| Settlement date: | March 1
|
| Ratings: | Moody’s: A1
|
| S&P: A
|
| Fitch: A+
|
| Distribution: | SEC registered
|
| Talk: | Treasuries plus 80 bps area
|
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