Hunton Andrews Kurth Represents the Underwriters on Southwestern Public Service Company’s Inaugural Issuance of Green Bonds

Time 1 Minute Read
June 18, 2019
News

Hunton Andrews Kurth LLP advised the underwriters on an SEC-registered offering by Southwestern Public Service Company (“SPS”) of $300 million aggregate principal amount of first mortgage bonds due 2049. An amount equal to the net proceeds of the offering  will be used to finance or refinance, in whole or in part, existing and future Eligible Green Expenditures and used in the development, construction and operation of, as well as transmission infrastructure to support, SPS’s 478 megawatt wind generation facility in Texas for the Hale Wind Project.

SPS, a wholly owned subsidiary of Xcel Energy Inc., is a utility engaged primarily in the generation, purchase, transmission, distribution, and sale of electricity in portions of Texas and New Mexico. The wholesale customers served by SPS comprised approximately 33 percent of its total kWh sold in 2018. SPS provides electric utility service to approximately 392,000 retail customers in Texas and New Mexico.

The Hunton Andrews Kurth team included Pete O’Brien, Christina Kwon and Brendan P. Harney. Robert McNamara provided tax advice.

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