Xcel Energy 2015 Annual Report Download - page 111
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At Dec. 31, 2015, Xcel Energy Inc. and its utility subsidiaries had the following committed credit facilities available:
(Millions of Dollars) Credit Facility (a) Drawn (b) Available
Xcel Energy Inc.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,000 $ 584 $ 416
PSCo . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 700 18 682
NSP-Minnesota. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 500 241 259
SPS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 400 22 378
NSP-Wisconsin. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150 10 140
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,750 $ 875 $ 1,875
(a) These credit facilities mature in October 2019.
(b) Includes outstanding commercial paper and letters of credit.
All credit facility bank borrowings, outstanding letters of credit and outstanding commercial paper reduce the available capacity under
the respective credit facilities. Xcel Energy Inc. and its subsidiaries had no direct advances on the credit facilities outstanding at Dec.
31, 2015 and 2014.
Long-Term Borrowings and Other Financing Instruments
Generally, all real and personal property of NSP-Minnesota, NSP-Wisconsin, PSCo and SPS are subject to the liens of their first
mortgage indentures. Debt premiums, discounts and expenses are amortized over the life of the related debt. The premiums,
discounts and expenses associated with refinanced debt are deferred and amortized over the life of the related new issuance, in
accordance with regulatory guidelines.
Maturities of long-term debt are as follows:
(Millions of Dollars)
2016. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 657
2017. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 638
2018. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,206
2019. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 406
2020. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,257
During 2015, Xcel Energy Inc. and its utility subsidiaries completed the following financings:
• PSCo issued $250 million of 2.9 percent first mortgage bonds due May 15, 2025;
• Xcel Energy Inc. issued $250 million of 1.2 percent senior notes due June 1, 2017 and $250 million of 3.3 percent senior
notes due June 1, 2025;
• NSP-Wisconsin issued $100 million of 3.3 percent first mortgage bonds due June 15, 2024;
• NSP-Minnesota issued $300 million of 2.2 percent first mortgage bonds due Aug. 15, 2020 and $300 million of 4.0 percent
first mortgage bonds due Aug. 15, 2045; and
• SPS issued $200 million of 3.3 percent first mortgage bonds due June 15, 2024.
During 2014, Xcel Energy Inc. and its utility subsidiaries completed the following financings:
• PSCo issued $300 million of 4.3 percent first mortgage bonds due March 15, 2044;
• NSP-Minnesota issued $300 million of 4.125 percent first mortgage bonds due May 15, 2044;
• SPS issued $150 million of 3.3 percent first mortgage bonds due June 15, 2024; and
• NSP-Wisconsin issued $100 million of 3.3 percent first mortgage bonds due June 15, 2024.
In 2014, in connection with SPS’ issuance of $150 million of 3.30 percent first mortgage bonds due June 15, 2024, SPS concurrently
secured its previously issued Series G Senior Notes due Dec. 1, 2018 equally and ratably with SPS’ first mortgage bonds as required
pursuant to the terms of the Series G notes.
Also in 2014, to provide the required collateralization, SPS issued $250 million of collateral 8.75 percent first mortgage bonds due
Dec. 1, 2018 to the trustee under its senior unsecured indenture which secured the previously issued Series G Senior Notes, 8.75
percent due Dec. 1, 2018, equally and ratably with SPS’ first mortgage bonds.