Summary
Xcel Energy Inc. (XEL) filed a Form 8-K on May 9, 2013, to report the issuance of $450 million in aggregate principal amount of 0.75% Senior Notes, Series due May 9, 2016. These notes were issued under an Underwriting Agreement with Barclays Capital Inc., Citigroup Global Markets Inc., and Merrill Lynch, Pierce, Fenner & Smith Incorporated, and are governed by a Trust Indenture dated December 1, 2000, as supplemented. The issuance is part of Xcel Energy's ongoing financing activities and is registered under a Form S-3 registration statement. The primary purpose of this filing is to provide investors with details regarding the terms and legal documentation associated with this debt issuance. The low coupon rate of 0.75% suggests favorable market conditions for Xcel Energy at the time of issuance, potentially indicating strong creditworthiness or a strategic move to secure long-term financing at a low cost. Investors should note this event as it affects the company's capital structure and future interest expenses.
Key Highlights
- 1Xcel Energy Inc. issued $450 million of 0.75% Senior Notes due May 9, 2016.
- 2The issuance occurred on May 9, 2013.
- 3The notes were issued under an Underwriting Agreement with Barclays Capital Inc., Citigroup Global Markets Inc., and Merrill Lynch, Pierce, Fenner & Smith Incorporated.
- 4The notes are governed by a Trust Indenture dated December 1, 2000, as supplemented by Supplemental Indenture No. 7.
- 5The offering was made pursuant to Xcel Energy's Form S-3 registration statement (File No. 333-183536).
- 6The filing includes exhibits related to the supplemental indenture, legal opinions, and computation of the ratio of earnings to fixed charges.