Northern States Power sells $200 million of bonds

By Associated Press
September 10, 2008 | Comments (0)

Recs

0

Special Offer!

Jan 12, Motley Fool Pro will accept new members for 10 days only. Your spot is reserved! To learn more, click below.

Motley Fool Pro

Northern States Power Co., a Wisconsin subsidiary of Xcel Energy, said Wednesday it has sold $200 million of mortgage bonds with the proceeds to be used partly to pay senior notes and repay short-term debt.

The sale consisted of its 30-year first mortgage bonds with an annual interest rate of 6.375 percent. They are redeemable at any time subject to certain provisions.

The Eau Claire-based utility said the proceeds of the sale will be applied in part to the payment at maturity of $80 million of 7.64 percent senior notes due Oct. 1 and to repay short-term debt. The rest of the proceeds will be for general corporate purposes.

Banc of America Securities LLC and BNY Mellon Capital Markets, LLC were joint book runners for the offering. KeyBanc Capital Markets was co-manager for the offering.

Xcel shares fell 60 cents, or 2.9 percent, to $20.26 in afternoon trading.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

DocumentId: 724679, ~/articles/articlehandler.aspx, 1/7/2009 10:30:06 PM

Sign up for FREE Motley Fool site access to keep reading:

“Northern States Power sells $200 million of bonds”

Signing up allows you to comment on articles and on the discussion boards.

It's completely FREE and will take only 10 seconds.

Privacy / Legal Information

We will use your email address only to keep you informed about updates to our web site and about other products and services that we think might interest you. The Motley Fool respects your privacy. Please read our Privacy Statement

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.