Xcel Energy launches up to $345M cash tender for three series of NSPM first mortgage bonds

XCEL ENERGY INC

Offers to purchase up to $345M aggregate principal of three series of first mortgage bonds issued by subsidiary NSPM.
Series with acceptance priorities: 3.600% due 2046 (highest), 4.00% due 2045, 4.125% due 2044 (lowest).
Fixed spread of +45 bps over reference UST; total consideration set on Dec 19, 2025 price determination date.
Offers expire Dec 19, 2025; settlement expected Dec 24, 2025; no minimum tender condition.
Xcel Energy may increase or waive the $345M maximum purchase amount in its sole discretion.

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