Hunton Andrews Kurth LLP Advised On Tender Offers For First Mortgage Bonds Of Northern States Power Company – Minnesota

Hunton Andrews Kurth LLP Advised on Tender Offers for First Mortgage Bonds of Northern States Power Company – Minnesota

Hunton Andrews Kurth LLP advised the dealer manager in Xcel Energy Inc.’s (Xcel) tender offers for the following first mortgage bonds of Northern States Power Company – Minnesota, a Minnesota corporation and subsidiary of Xcel: 3.600% First Mortgage Bonds, series due May 15, 2046 (the 2046 Bonds); 4.00% First Mortgage Bonds, series due August 15, 2045 (the 2045 Bonds); and 4.125% First Mortgage Bonds, series due May 15, 2044 (the 2044 Bonds, together with the 2046 Bonds and the 2045 Bonds, the Bonds). Ultimately $506.7 million of the Bonds, approximately $179 million of the 2046 Bonds, $147.7 million of the 2045 Bonds, and $180 million of the 2044 Bonds, were accepted for purchase by Xcel.

Xcel is a public utility holding company with four utility subsidiaries: Northern States Power Company, a Minnesota corporation, which provides electric utility service to approximately 1.6 million customers in Minnesota, North Dakota, and South Dakota and natural gas utility service to approximately 0.6 million customers in Minnesota and North Dakota; Northern States Power Company, a Wisconsin corporation, which provides electric utility service to approximately 0.3 million customers and natural gas utility service to approximately 0.1 million customers in Wisconsin and Michigan; Public Service Company of Colorado, a Colorado corporation, which provides electric utility service to approximately 1.6 million customers and natural gas utility service to approximately 1.5 million customers in Colorado; and Southwestern Public Service Company, a New Mexico corporation, which provides electric utility service to approximately 0.4 million customers in Texas and New Mexico.

The Hunton Andrews Kurth LLP team led by Peter K. O’Brien (Partner), Brendan P. Harney (Partner), Reuben H. Pearlman (Associate), Jingyi "Alice" Yao (Associate), and Catherine I. Bulger (Associate), Robert McNamara (Partner), and William Freeman (Partner), provided tax advice.

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