Public Service Co. of Colorado on March 13 issued $400 million of 4.05% series 33 first mortgage bonds, due Sept. 15, 2049.
The interest on the notes is payable semiannually on March 15 and Sept. 15, commencing on Sept. 15.
The company plans to use proceeds from the issuance to partially fund the redemption of $400 million in outstanding 5.125% first mortgage bonds. Until then, the Xcel Energy Inc. subsidiary plans to invest proceeds temporarily in interest bearing obligations, including the utility money pool.
BMO Capital Markets Corp., BNP Paribas Securities Corp., Credit Suisse Securities (USA) LLC and Scotia Capital (USA) Inc. acted as book managers.