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Northern States Power Company-Minnesota Announces Redemption of 2.15% First Mortgage Bonds, Series due August 15, 2022
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
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Rhea-AI Summary
Xcel Energy has announced the redemption of all outstanding 2.15% First Mortgage Bonds, Series due August 15, 2022, with a total principal amount of $300,000,000. The redemption date is set for May 20, 2022, with the redemption price equating to 100% of the principal plus accrued interest. It's important to note that this press release does not serve as a notice of redemption. Holders of the bonds are advised to refer to the notice of redemption provided through The Depository Trust Company.
Positive
Redemption of $300 million bonds indicates strong financial management.
Providing 100% principal redemption plus accrued interest reflects a commitment to bondholders.
Negative
None.
MINNEAPOLIS--(BUSINESS WIRE)--
Northern States Power Company, a Minnesota corporation, announced today that it has submitted a redemption notice to The Depository Trust Company, as registered holder, to redeem all of its outstanding 2.15% First Mortgage Bonds, Series due August 15, 2022 (the “Bonds”) on May 20, 2022 (the “Redemption Date”). The redemption price for the Bonds will be equal to 100% of the principal amount being redeemed plus accrued and unpaid interest thereon to but excluding the Redemption Date. The aggregate principal amount of Bonds currently outstanding is $300,000,000.
This press release does not constitute a notice of redemption of the Bonds. Holders of the Bonds should refer to the notice of redemption to be delivered through The Depository Trust Company.
This press release is not an offer to sell or a solicitation of an offer to buy any securities.
Xcel Energy Financial analysts:
Paul Johnson, 612-215-4535
Vice President, Treasurer & Investor Relations
or
News media inquiries:
Xcel Energy Media Relations, 612-215-5300
Source: Xcel Energy
FAQ
What is the redemption date for XEL's bonds?
The redemption date for Xcel Energy's bonds is May 20, 2022.
What is the total principal amount of the bonds being redeemed by Xcel Energy?
The total principal amount of the bonds being redeemed is $300 million.
What type of bonds is Xcel Energy redeeming?
Xcel Energy is redeeming its 2.15% First Mortgage Bonds, Series due August 15, 2022.
