Xcel Energy announced its intent to offer $2 billion in convertible senior notes due 2027 through a private placement to qualified institutional buyers. The company plans to use the net proceeds from this offering primarily to repay existing short-term debt and for general corporate purposes.
Key Details
- Offering Size: $2,000,000,000 in aggregate principal amount of convertible senior notes due 2027.
- Purchaser's Option: Initial purchasers have a 13-day option to acquire up to an additional $300,000,000 of the notes.
- Use of Proceeds: Funds will be used to repay short-term borrowings, including outstanding commercial paper and borrowings under a term loan agreement.
- Note Terms: The notes are senior unsecured obligations. Final terms, including interest rate and conversion price, will be determined at the time of pricing.