Hunton Andrews Kurth Represents Underwriters in Connection with Northern States Power Company – Minnesota’s $850 Million Green Bonds Offerings

Time 2 Minute Read
March 31, 2021
News

Hunton Andrews Kurth LLP advised underwriters on an SEC-registered offering by Northern States Power Company (a Minnesota corporation) (the “Company”) of $425 million aggregate principal amount of its 2.25% First Mortgage Bonds, Series due April 1, 2031, and $425 million aggregate principal amount of its 3.20% First Mortgage Bonds, Series due April 1, 2052 (collectively, the “Bonds”). An amount equal to the aggregate net proceeds from the sale of the Bonds will be used by the Company to finance or refinance, in whole or in part, existing and future Eligible Green Expenditures, which are those funded and to be funded from January 1, 2019 to June 30, 2022, and used in the development, construction, and operation of, as well as transmission infrastructure to support, the Company’s wind energy projects.

The Company was incorporated in 2000 under the laws of the State of Minnesota. The Company is an operating utility engaged primarily in the generation, purchase, transmission, distribution and sale of electricity in Minnesota, North Dakota and South Dakota. The Company 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, 2020, the Company provided electric utility service to approximately 1.5 million customers and natural gas utility service to approximately 0.6 million customers. The Company is a wholly owned subsidiary of Xcel Energy Inc.

The Hunton Andrews Kurth team included Pete O’Brien, Christina Kwon, Brendan Harney and Flavia VehbiuRobert McNamara and Tim Strother advised on tax matters.

Media Contact

Lisa Franz
Director of Public Relations

Jeremy Heallen
Public Relations Senior Manager
mediarelations@HuntonAK.com

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