Southwestern Public Service Company Issues $1.2B in First Mortgage Bonds

Southwestern Public Service Company, an electric utility subsidiary of Xcel Energy serving customers in portions of Texas and New Mexico, completed a $1.2 billion first mortgage bond offering with representation from Faegre Drinker. The offering consisted of two tranches: $650 million of 5.300% first mortgage bonds, series no. 13 due 2036, and $550 million of 5.875% first mortgage bonds, series no. 14 due 2056. The transaction closed on June 29, 2026.