Xcel Energy Inc.

$XEL - NYSE - Utilities
ON 1



Press Release $XEL Xcel Energy Inc.

0 COMMENTs 15 Apr
Up 0 0 Down
Xcel Energy Announces Redemption of 7.60% Junior Subordinated Notes, Series Due 2068

MINNEAPOLIS--(BUSINESS WIRE)-- Xcel Energy Inc. (NYSE: XEL) today announced that it has submitted a redemption notice to the trustee to redeem all of its outstanding 7.60% Junior Subordinated Notes, Series Due 2068 (CUSIP No. 98389B 886) (NYSE: XCJ) (the Bonds) on May 31, 2013 (the Redemption Date). As of April 15, 2013, $400 million aggregate principal amount of the Bonds were outstanding. The redemption is expected to be funded with short-term borrowings and excess cash available to the Company.

The redemption price of the bonds is 100% of the principal amount, plus interest accrued and unpaid to, but excluding, the Redemption Date.

The Bonds are held only in book-entry form through the Depositary Trust Corporation (DTC). DTC will redeem the Bonds in accordance with its procedures and notify the holders.

This press release does not constitute a notice of redemption of the Bonds. Holders of the Bonds should refer to the notice of redemption to be delivered to the registered holders of the Bonds by Wells Fargo Bank, N.A., the trustee with respect to the Bonds.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. Such forward-looking statements include those regarding the Company's planned redemption of securities. The statements made by the Company are based upon management’s current expectations and are subject to certain risks and uncertainties. These risks and uncertainties include market conditions and other factors beyond the Company’s control and the risk factors and other cautionary statements described in the Company’s filings with the SEC, including those described in the Risk Factors and Cautionary Statements sections of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2012. The Company does not intend to update these statements and undertakes no duty to any person to provide any such update under any circumstance.

Xcel Energy
Financial analysts:
Paul Johnson, 612-215-4535
Vice President – Investor Relations and Business Development
News media inquiries:
Xcel Energy Media Relations, 612-215-5300

Source: Xcel Energy

SHARE THIS: Twitter StockTwits LinkedIn Google Plus SHORT URL: http://bdvt.co/hiW