Xcel Energy 2012 Annual Report Download - page 82

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Commercial Paper — Xcel Energy Inc., NSP-Minnesota, NSP-Wisconsin, PSCo and SPS each have individual commercial paper
programs. The authorized levels for these commercial paper programs are:
• $800 million for Xcel Energy Inc.;
• $700 million for PSCo;
• $500 million for NSP-Minnesota;
• $300 million for SPS; and
• $150 million for NSP-Wisconsin.
Commercial paper outstanding for Xcel Energy was as follows:
Three
Months
Ended
(Amounts in Millions, Except Interest Rates)
Dec. 31, 2012
Borrowing limit ................................................................ $ 2,450
Amount outstanding at period end................................................
602
Average amount outstanding ....................................................
398
Maximum amount outstanding...................................................
602
Weighted average interest rate, computed on a daily basis ..........................
0.36%
Weighted average interest rate at end of period .................................... 0.36
Twelve
Months
Ended
Twelve
Months
Ended
Twelve
Months
Ended
(Amounts in Millions, Except Interest Rates)
Dec. 31, 2012 Dec. 31, 2011 Dec. 31, 2010
Borrowing limit ................................................................ $ 2,450
$
2,450 $
2,177
Amount outstanding at period end................................................
602 219
466
Average amount outstanding ....................................................
403 430
263
Maximum amount outstanding...................................................
634 824
653
Weighted average interest rate, computed on a daily basis .......................... 0.35% 0.36%
0.36
%
Weighted average interest rate at end of period .................................... 0.36 0.40
0.40
Credit Facilities — In July 2012, NSP-Minnesota, NSP-Wisconsin, PSCo, SPS and Xcel Energy Inc. entered into amended five-
year credit agreements with a syndicate of banks, replacing their previous four-year credit agreements. The amended credit
agreements have substantially the same terms and conditions as the prior credit agreements with an improvement in pricing and
an extension of maturity from March 2015 to July 2017. The Eurodollar borrowing margins on these lines of credit were reduced
from a range of 100 to 200 basis points per year, to a range of 87.5 to 175 basis points per year based on applicable long-term
credit ratings. The commitment fees, calculated on the unused portion of the lines of credit, were reduced from a range of 10 to 35
basis points per year, to a range of 7.5 to 27.5 basis points per year, also based on applicable long-term credit ratings.
NSP-Minnesota, PSCo, SPS and Xcel Energy Inc. have the right to request an extension of the revolving termination date for two
additional one-year periods. NSP-Wisconsin has the right to request an extension of the revolving termination date for an
additional one-year period. All extension requests are subject to majority bank group approval.
As of Feb. 19, 2013, Xcel Energy Inc. and its utility subsidiaries had the following committed credit facilities available to meet
liquidity needs:
(Millions of Dollars)
Facility (a) Drawn (b)
Available Cash Liquidity
Xcel Energy Inc. ................... $ 800.0 $ 441.0 $ 359.0 $
0.4
$
359.4
PSCo .............................. 700.0 4.0 696.0
1.0
697.0
NSP-Minnesota .................... 500.0 257.2 242.8
0.6
243.4
SPS ............................... 300.0 25.0 275.0
0.2
275.2
NSP-Wisconsin .................... 150.0 3.0 147.0
0.8
147.8
Total ............................ $ 2,450.0 $ 730.2 $ 1,719.8 $
3.0
$
1,722.8
(a) These credit facilities expire in July 2017.
(b) Includes outstanding commercial paper and letters of credit.