Xcel Energy 2015 Annual Report Download - page 90
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(Amounts in Millions, Except Interest Rates) Year Ended Dec. 31,
2015 Year Ended Dec. 31,
2014 Year Ended Dec. 31,
2013
Borrowing limit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,750 $ 2,750 $ 2,450
Amount outstanding at period end . . . . . . . . . . . . . . . . . . . . . . . . . . 846 1,020 759
Average amount outstanding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 601 841 481
Maximum amount outstanding. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,360 1,200 1,160
Weighted average interest rate, computed on a daily basis . . . . . . . 0.48% 0.33% 0.31%
Weighted average interest rate at end of period . . . . . . . . . . . . . . . . 0.82 0.56 0.25
Credit Facilities — NSP-Minnesota, NSP-Wisconsin, PSCo, SPS, and Xcel Energy Inc. each have five-year credit agreements with a
syndicate of banks. The total size of the credit facilities is $2.75 billion and each credit facility terminates in October 2019.
NSP-Minnesota, PSCo, SPS and Xcel Energy Inc. each 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. 17, 2016, 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. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,000 $ 616 $ 384 $ — $ 384
PSCo . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 700 4 696 1 697
NSP-Minnesota . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 500 250 250 1 251
SPS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 400 65 335 1 336
NSP-Wisconsin . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150 — 150 3 153
Total. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,750 $ 935 $ 1,815 $ 6 $ 1,821
(a) These credit facilities mature in October 2019.
(b) Includes outstanding commercial paper and letters of credit.
Money Pool — Xcel Energy received FERC approval to establish a utility money pool arrangement with the utility subsidiaries,
subject to receipt of required state regulatory approvals. The utility money pool allows for short-term investments in and borrowings
between the utility subsidiaries. Xcel Energy Inc. may make investments in the utility subsidiaries at market-based interest rates;
however, the money pool arrangement does not allow the utility subsidiaries to make investments in Xcel Energy Inc. The money
pool balances are eliminated in consolidation.
NSP-Minnesota, PSCo and SPS participate in the money pool pursuant to approval from their respective state regulatory commissions.
NSP-Wisconsin does not participate in the money pool.
Registration Statements — Xcel Energy Inc.’s Articles of Incorporation authorize the issuance of one billion shares of $2.50 par value
common stock. As of Dec. 31, 2015 and 2014, Xcel Energy Inc. had approximately 508 million shares and 506 million shares of
common stock outstanding, respectively. In addition, Xcel Energy Inc.’s Articles of Incorporation authorize the issuance of seven
million shares of $100 par value preferred stock. Xcel Energy Inc. had no shares of preferred stock outstanding on Dec. 31, 2015 and
2014.
Xcel Energy Inc. and its utility subsidiaries have registration statements on file with the SEC pursuant to which they may sell
securities from time to time. These registration statements, which are uncapped, permit Xcel Energy Inc. and its utility subsidiaries to
issue debt and other securities in the future at amounts, prices and with terms to be determined at the time of future offerings, and in
the case of our utility subsidiaries, subject to commission approval.
Financing Plans — During 2016, Xcel Energy Inc. and its utility subsidiaries anticipate issuing the following:
• Xcel Energy Inc. plans to issue approximately $700 million of senior unsecured bonds;
• NSP-Minnesota plans to issue approximately $250 million of first mortgage bonds; and
• SPS plans to issue approximately $350 million of first mortgage bonds.