Financing ·
Xcel Energy proposes $2B convertible senior notes due 2027 with up to $300M option
XELXcel Energy Inc
Xcel Energy announced a proposed private offering of $2,000,000,000 in aggregate principal amount of convertible senior notes due 2027. The company intends to grant the initial purchasers an option to buy up to an additional $300,000,000 of these notes within a 13-day period following issuance. Net proceeds are intended to repay short-term borrowings, including commercial paper and term loan agreements, for general corporate purposes. Final terms, such as the initial conversion price and interest rate, will be determined at pricing. Xcel Energy operates in the energy sector, generating and distributing electricity and gas across eight states.