NORTHERN STATES POWER CO /WI/: debt financing — Northern States Power issues $125M of 5.30% First Mortgage Bonds due 2053

NORTHERN STATES POWER CO /WI/

Issued $125M aggregate principal of 5.30% First Mortgage Bonds due June 15, 2053.
Net proceeds of ~$123.9M; will fund general corporate purposes, working capital, capex, and repay short-term debt.
Bonds secured by first mortgage lien on substantially all real and fixed properties.
Redemption: make-whole prior to Dec 15, 2052; par plus accrued interest thereafter.
Closing expected June 8, 2023; KeyBanc Capital Markets acted as sole placement agent.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

NORTHERN STATES POWER CO /WI/ incurred senior notes of $125 million with certain institutional investors at 5.30% maturing June 15, 2053.

Instrument: senior notes
Principal: $125 million
Counterparty: certain institutional investors
Rate: 5.30%
Maturity: June 15, 2053
Event: incurrence

Exact text from the filing

On May 10, 2023, Northern States Power Company, a Wisconsin corporation (“NSP-Wisconsin”), entered into a Bond Purchase Agreement (the “Bond Purchase Agreement”) with certain institutional investors for the offer and sale of $125 million in aggregate principal amount of 5.30% First Mortgage Bonds, Series due June 15, 2053 (the “Bonds”).

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Source: SEC EDGAR

accession 0001193125-23-140719

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