Xcel Energy Subsidiary Southwestern Public Service Company Announces Debt Financing

Xcel Energy Inc. XEL subsidiary Southwestern Public Service Company today announced that it closed an offering of $200.0 million in aggregate principal amount of its 4.50% first mortgage bonds due August 15, 2041 (the Bonds). The Bonds are redeemable at any time subject to certain “make whole” provisions prior to February 15, 2041. On and after this date, the Bonds are callable at par. SPS intends to use a portion of the net proceeds from the sale of the Bonds to repay short-term debt borrowings incurred to fund its daily operational needs and to redeem $57.3 million of its outstanding 5.75% Pollution Control Revenue Refunding Bonds due September 1, 2016. The balance of the net proceeds will be used for general corporate purposes.