Xcel Energy Announces Redemption of Outstanding 2.40% Senior Notes, Series Due March 15, 2021

Rhea-AI Summary

Xcel Energy has announced a plan to redeem all outstanding 2.40% Senior Notes due March 15, 2021, totaling $400 million, on February 16, 2021. The redemption price will include the principal amount and any accrued interest. This announcement serves as a notice of intent rather than a formal redemption notice, with details to be provided by the trustee, Wells Fargo Bank. Forward-looking statements in the PR indicate that actual execution may be subject to various economic and industry risks.

Positive

• Redemption of $400 million in Senior Notes shows proactive debt management.
• The plan aims to streamline the company’s financial structure.

Negative

• Redemption plan indicates reliance on external economic conditions.
• Forward-looking statements highlight potential risks that may affect the company’s financial performance.

Xcel Energy Inc. (NASDAQ: XEL) announced today that it has submitted a redemption notice to the trustee to redeem all of its outstanding 2.40% Senior Notes, Series due March 15, 2021 (Notes), on February 16, 2021 (Redemption Date). The redemption price is the outstanding principal amount of the Notes, plus accrued and unpaid interest to the Redemption Date. The aggregate principal amount of Notes currently outstanding is $400,000,000.

This press release does not constitute a notice of redemption of the Notes. Holders of the Notes should refer to the notice of redemption to be delivered to the registered holders of the Notes by Wells Fargo Bank, N.A., the trustee with respect to the Notes.

This press release is not an offer to sell or a solicitation of an offer to buy any securities.

Forward Looking Statements

This release contains forward-looking statements that are subject to certain risks, uncertainties and assumptions. Such forward-looking statements include the company’s plan to redeem the Notes. Actual results may vary materially. Factors that could cause actual results to differ materially include, but are not limited to: general economic conditions, including the availability of credit, actions of rating agencies and their impact on capital expenditures; business conditions in the energy industry: competitive factors; unusual weather; effects of geopolitical events; including war and acts of terrorism; changes in federal or state legislation; regulation; actions of regulatory bodies; and other risk factors listed from time to time by Xcel Energy in its Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2019 (including the items described under Factors Affecting Results of Operations) and the other risk factors listed from time to time by Xcel Energy Inc. in reports filed with the SEC.

About Xcel Energy Inc.

Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit xcelenergy.com or follow us on Twitter and Facebook.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210105005763/en/

FAQ

What is the redemption date for Xcel Energy's Senior Notes?

The redemption date for Xcel Energy's Senior Notes is February 16, 2021.

How much is Xcel Energy redeeming in Senior Notes?

Xcel Energy is redeeming a total of $400 million in Senior Notes.

What interest rate do the Senior Notes have?

The Senior Notes have an interest rate of 2.40%.

What does the redemption price include?

The redemption price includes the outstanding principal amount plus accrued and unpaid interest up to the redemption date.

Who is the trustee for Xcel Energy's Senior Notes?

The trustee for Xcel Energy's Senior Notes is Wells Fargo Bank, N.A.