SOUTHWESTERN PUBLIC SERVICE CO: debt financing — SPS issues $100M of 6.00% First Mortgage Bonds due 2053

SOUTHWESTERN PUBLIC SERVICE CO

Net proceeds of ~$99.125M; funds will go to general corporate purposes and repaying short-term debt.
Bonds are secured by a first mortgage lien on substantially all of SPS's real and fixed properties.
Closing expected September 8, 2023; RBC Capital Markets acted as sole placement agent.
Bonds offered under Section 4(a)(2) exemption from Securities Act registration.

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

SOUTHWESTERN PUBLIC SERVICE CO incurred mortgage of $100 million with U.S. Bank Trust Company, National Association at 6.00% maturing 2053.

Instrument: mortgage
Principal: $100 million
Counterparty: U.S. Bank Trust Company, National Association
Rate: 6.00%
Maturity: 2053
Event: incurrence

Exact text from the filing

On August 21, 2023, Southwestern Public Service Company, a New Mexico corporation (“SPS”), entered into a Bond Purchase Agreement (the “Bond Purchase Agreement”) with certain institutional investors for the offer and sale of $100 million in aggregate principal amount of 6.00% First Mortgage Bonds, Series No. 10 due 2053 (the “Bonds”).

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Source: SEC EDGAR

accession 0001193125-23-216984

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