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XCEL ENERGY INC 8-K Report, Agreement Terminated (Oct 11, 2006)

Reports
Material Agreements
Filing Date
Filed October 11, 2006
Period End
October 6, 2006
Securities
XELXELLL
In the record · 2016–202610-K1110-Q328-K247

XEL filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 247 current reports (8-K) between 2016 and 2026.

  1. FY2016 annual report10-K · Feb ’17Feb ’17
  2. Material agreement8-K · Dec ’19Dec ’19
  3. Leadership change8-K · Mar ’22Mar ’22
  4. Leadership change8-K · Dec ’25Dec ’25

01—Abstract

Summary

Summary of the 8-K filed October 11, 2006. Cited figures are marked; the original filing is the authoritative source.

This 8-K filing by Xcel Energy Inc. reports on an event related to its wholly-owned subsidiary, Southwestern Public Service Company (SPS).

Specifically, it details the termination of a material definitive agreement, which was a $350 milliona credit agreement dated August 23, 2006. The termination occurred on October 6, 2006, following the successful completion of SPS's offering of long-term debt. For investors, this indicates a successful debt refinancing by SPS.

The company was able to secure new long-term debt, which led to the termination of its existing bridge credit facility. This move suggests improved access to capital markets and potentially more favorable terms for SPS's financing, contributing to Xcel Energy's overall financial stability and operational flexibility.

02—Key points

Key Highlights

  1. Southwestern Public Service Company (SPS), a subsidiary of Xcel Energy, completed an offering of long-term debt on October 6, 2006.
  2. As a result of the debt offering, SPS's $350 million credit agreement dated August 23, 2006, was terminated.
  3. The terminated agreement was a bridge credit facility, indicating the company has moved to more permanent financing.
  4. Citibank, N.A. was the administrative agent for the terminated credit agreement.
  5. The filing falls under Item 1.02 of Form 8-K, concerning the termination of a material definitive agreement.
  6. This action signifies successful debt management and refinancing by Xcel Energy's subsidiary.

03—Questions

Frequently Asked Questions

  1. What was the primary reason for this 8-K filing?

    The primary reason for this 8-K filing was to report the termination of a material definitive agreement, specifically a $350 million credit agreement for Xcel Energy's subsidiary, Southwestern Public Service Company (SPS).

  2. Why did the credit agreement terminate?

    The credit agreement terminated because Southwestern Public Service Company successfully completed an offering of its own long-term debt, fulfilling the conditions that led to the termination of the prior bridge financing.

  3. What does this refinancing mean for Xcel Energy investors?

    This refinancing indicates that SPS was able to secure new, long-term debt financing, likely on favorable terms. This suggests financial strength and improved access to capital markets for the subsidiary, which is a positive sign for Xcel Energy's overall financial health and stability.

  4. What was the total value of the terminated credit agreement?

    The total value of the terminated credit agreement was $350 million.

04—Continue

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