Xcel Energy Inc. (NYSE: XEL) announced today that it has submitted a redemption notice to the trustee to redeem all of its outstanding 5.613% Senior Notes, Series B due 2017 (Notes) on December 19, 2016 (Redemption Date). The redemption price is equal to the greater of the outstanding principal amount of the Notes and a make-whole premium, which will be calculated three business days prior to the Redemption Date in accordance with the terms of the Notes and related indenture, plus accrued and unpaid interest to the Redemption Date. The aggregate principal amount of Notes currently outstanding is $253,979,000. The company expects to issue new debt to fund the redemption of the Notes.
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
Except for the historical
statements contained in this release, the matters discussed herein
including the company’s plans to redeem the Notes and issue new debt,
are forward-looking statements that are subject to certain risks,
uncertainties and assumptions. Actual results may vary materially.
Forward-looking statements speak only as of the date they are made and
we expressly disclaim any obligation to update any forward-looking
information. Important factors that may cause such variances include,
but are not limited to, market conditions, demand for new corporate debt
and other factors set forth in Xcel Energy’s Annual Report on Form 10-K
for the fiscal year ended Dec. 31, 2015, Quarterly Reports on Form 10-Q
for the quarters ended March 31, 2016, June 30, 2016, and September 30,
2016 and subsequent securities filings, including: general economic
conditions, including inflation rates, monetary fluctuations and their
impact on capital expenditures and the ability of Xcel Energy Inc. and
its subsidiaries (collectively, Xcel Energy) to obtain financing on
favorable terms; business conditions in the energy industry; including
the risk of a slow down in the U.S. economy or delay in growth recovery;
trade, fiscal, taxation and environmental policies in areas where Xcel
Energy has a financial interest; customer business conditions; actions
of credit rating agencies; competitive factors including the extent and
timing of the entry of additional competition in the markets served by
Xcel Energy; unusual weather; effects of geopolitical events, including
war and acts of terrorism; cyber security threats and data security
breaches; state, federal and foreign legislative and regulatory
initiatives that affect cost and investment recovery, have an impact on
rates or have an impact on asset operation or ownership or impose
environmental compliance conditions; structures that affect the speed
and degree to which competition enters the electric and natural gas
markets; costs and other effects of legal and administrative
proceedings, settlements, investigations and claims; financial or
regulatory accounting policies imposed by regulatory bodies;
availability or cost of capital; and employee work force factors.
About Xcel Energy
Xcel Energy (NYSE: 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
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Contacts:
Financial analysts:
Paul Johnson, 612-215-4535
Vice
President, Investor Relations
or
News media inquiries:
Xcel
Energy Media Relations, 612-215-5300