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Public Service Co. of Colorado sells $550M of 1st mortgage bonds

Public Service Co. of Colorado on Aug. 13 sold $550 million of 3.20% first mortgage bonds, series No. 34, due March 1, 2050.

The interest on the notes is payable semiannually on March 1 and Sept. 1, starting March 1, 2020.

The Xcel Energy Inc. subsidiary intends to use an amount equal to the net proceeds of the offering to finance or refinance existing and future "Eligible Green Expenditures" funded from January 2019 to December 2020.

Such expenditures are to be used in the development, construction and operation of the company's renewable energy projects, as well as transmission infrastructure to support for those projects.

Barclays Capital Inc., Citigroup Global Markets Inc., PNC Capital Markets LLC and TD Securities (USA) LLC are the joint book-running managers for the offering.