Hunton Andrews Kurth Advises on Northern States Power Company (Minnesota) $600,000,000 Green Bond Offering

Time 2 Minute Read
September 19, 2019
News

Hunton Andrews Kurth LLP advised the underwriters on an SEC-registered offering by Northern States Power Company (a Minnesota corporation) (NSPM) of $600 million aggregate principal amount of green bonds due 2050. The bonds issued were green bonds. An amount equal to such net proceeds of the offering will be used by NSPM to finance and/or refinance, in whole or in part, existing and future Eligible Green Expenditures, which are those funded and to be funded from January 1, 2018 to June 1, 2020, and used in the development, construction, and operation of, as well as transmission infrastructure to support NSPM’s wind energy projects.

NSPM was incorporated in 2000 under the laws of the State of Minnesota. NSPM is an operating utility engaged primarily in the generation, purchase, transmission, distribution and sale of electricity in Minnesota, North Dakota and South Dakota. NSPM also purchases, transports, distributes and sells natural gas to retail customers and transports customer-owned natural gas in Minnesota and North Dakota. As of December 31, 2018, NSPM provided electric utility service to approximately 1.5 million customers and natural gas utility service to approximately 0.5 million customers. NSPM is a wholly owned subsidiary of Xcel Energy Inc.

The Hunton Andrews Kurth team included Pete O’Brien, Christina Kwon and Michelle G. Chan. Robert McNamara advised on tax matters.

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