Xcel Energy Subsidiary Files Registration Statement with SEC.Business Editors MINNEAPOLIS--(BUSINESS WIRE)--April 14, 2003 Xcel Energy (NYSE NYSE See: New York Stock Exchange :XEL XEL New Carlisle, Quebec, Canada - New Carlisle / via Rail Service (Airport Code) ) announced today that its subsidiary, Public Service Company of Colorado (PSCo), filed a Form S-3 registration statement with the Securities and Exchange Commission (SEC). The filing registers $500 million of new secured first collateral trust bonds Collateral trust bonds A bond in which the issuer (often a holding company) grants investors a lien on stocks, notes, bonds, or other financial asset as security. Compare mortgage bond. or unsecured Unsecured A loan or equity interest that is given without any guarantee of payment, performance, satisfaction or opportunity for return from the recipient. No property, interest or security is used as collateral in either a guarantee or a pledge. senior debt securities. In addition, the registration statement constitutes a post-effective amendment to PSCo's Form S-3 registration statement filed with the SEC in June 1999 under which $300 million of unsecured senior debt securities remain unsold. The post-effective amendment allows PSCo to issue the $300 million of previously registered debt as either secured first collateral trust bonds or unsecured senior debt securities. "PSCo has $310 million of debt maturing through 2005," said Ben Fowke, Xcel Energy vice president and treasurer. "However, PSCo has only $300 million of capacity remaining on an effective registration statement. With today's low Today's Low The intra-day low trading price. Notes: In other words, this is the lowest price that a stock traded at during the course of the day. More often than not this is lower than the closing price. See also: Today's High interest rate environment, we have over $250 million of high coupon debt outstanding that we could potentially refinance Refinance 1. When a business or person revises their payment schedule for repaying debt. 2. Replacing an older loan with a new loan offering better terms. Notes: When a business refinances they typically extend the maturity date. through 2005. In addition, our filing gives us the capability to issue over $230 million of new debt to fund system growth or reduce short term debt levels." Fowke said this registration statement will give the PSCo flexibility for the next few years to act quickly, if and when financing opportunities arise. Xcel Energy is a major U.S. electricity and natural gas company with operations in 12 Western and Midwestern states. Formed by the merger of Denver-based New Century Energies and Minneapolis-based Northern States Power Co., Xcel Energy provides a comprehensive portfolio of energy-related products and services to 3.2 million electricity customers and 1.7 million natural gas customers through its regulated operating companies operating company A business that engages in transactions with outsiders. . In terms of customers, it is the fourth-largest combination natural gas and electricity company in the nation. Company headquarters are located in Minneapolis. More information is available at www.xcelenergy.com. |
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